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In the year 20X5, Ben Smith Corporation declared and paid $20,000 cash dividends to its preferred stockholders. In the statement of cash flows, Ben Smith

In the year 20X5, Ben Smith Corporation declared and paid $20,000 cash dividends to its preferred stockholders. In the statement of cash flows, Ben Smith will show this amount as an outflow for a(n):

a) operating activity.

b) investing activity.

c) financing activity.

d) contingent activity.

e) brand building activity.

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