Lab Industries, Inc., issued $66,000 of bonds, paid cash dividends of $9,600, sold long-term investments for $13,600, received $6,600 of dividend revenue, purchased treasury stock for $16,600, and purchased new equipment for $20,600. What is the net cash flow from financing activities?

$20,600 inflow.

$76,600 inflow.

$39,400 outflow.

$39,800 inflow.