Milliken Company paid $3.80 million to purchase stock in another company, $1.80 million to repurchase treasury shares, $2.50 million to buy short-term investments, sold used equipment for $0.88 million when its book value was $1.80 million, and purchased new equipment for $4.2 million. What was the net cash flow from investing activities?

Multiple Choice

• $9.62 million net cash outflow.

• $11.42 million net cash outflow.

• $10.78 million net cash outflow.

• $6.88 million net cash outflow.