Gee Companys accounting records and financial statements reported the following:

Cash paid to acquire machinery	$70,000
Proceeds from sale of land	80,000
Loss from the sale of land	5,000
Cash paid to acquire a trademark	38,000
Treasury stock purchased for cash	50,000
Dividend revenue received	20,000

Gee prepares its financial statements in accordance with IFRS. In its statement of cash flows, Gee most likely reports net cash outflows from investing activities of:

$ 8,000.

$11,000.

$28,000.

$33,000.