The Following Information Was Extracted from the Records of Ustinof

The following information was extracted from the records of Ustinof Limited:
Opening balance of equipment, $360 000
Closing balance of equipment, $400 000
Cost of new equipment, $80 000
Proceeds from sale of equipment, $6000 (Cost $40 000; Carrying amount $10 000)
The total cash flows from investing activities is determined as:

A) $40 000 cash outflow.
B) $74 000 cash outflow.
C) $76 000 cash outflow.
D) $80 000 cash outflow.