Use the following information to answer the next two questions regarding a U.S. firm:

Cash paid to acquire operating assets $50 million

Cash dividends paid 30 million

Cash received from sale of real estate investment 20 million

Loss on sale of real estate investment 10 million

Cash received from issuance of bonds payable 70 million

Net investing cash outflow for the period is:

Group of answer choices

$30 million

$40 million

$20 million

$50 million