On January 1, 2020, Randal Inc. issued a 5% note payable to First Bank for $80,000 with 10 equal annual payments (principal plus interest) with the first payment due December 31, 2020. Indicate the net impact on the financing activities section of the statement of cash flows for 2020.

Select one:

a. Net cash inflow of $73,640

b. Net cash outflow of $10,360

c. Net cash inflow of $69,640

d. Net cash inflow of $76,000