Required information Exercise 21-13 (Algo) Identifying cash flows from investing activities and financing activities [LO21-5, 21- 6] [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated. collected the following Information: Fair value of shares issued in a stock dividend Payment for the early extinguishment of long-term bonds (book value: $92.0 million) Proceeds from the sale of treasury stock (cost: $28.0 million) Gain on sale of land Proceeds from sale of land Purchase of Microsoft common stock Declaration of cash dividends Distribution of cash dividends declared in 2023 ($ in millions) $112.0 97.0 33.0 3.7 11.1 164.0 62.0 59.0 Exercise 21-13 (Algo) Part 1 Required: 1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e.. 5,500,000 should be entered as 5.5). Answer is not complete. ($ in millions) Cash Flows From Investing Activities Proceeds from sale of land S 11.1 $ 164.0 x Distribution of cash dividends declared in 2020 S (62.0) x Payment for the early extinguishment of long-term bonds S (97.0) * Proceeds from the sale of treasury stock S 33.0 x Net cash inflows (outflows) from investing activities 49.1