On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $49,500 face value, four-year term note that had an 9 percent annual interest rate. The note is to be repaid by making annual cash payments of $15,279 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $24,255 cash per year.

Does cash outflow from operating activities remain constant or change each year?