Miloy Corp

Miloy Corp.'s transactions for the year ended December 31, 2008 included the following:
• Acquired 50% of Gant Corp.'s common stock for $180,000 cash which was borrowed from a bank.
• Issued 5,000 shares of its preferred stock for land having a fair value of $320,000.
• Issued 500 of its 11% debenture bonds, due 2013, for $392,000 cash.
• Purchased a patent for $220,000 cash.
• Paid $120,000 toward a bank loan.
• Sold available-for-sale securities for $796,000.
• Had a net increase in returnable customer deposits (long-term) of $88,000.
-Miloy's net cash provided by investing activities for 2008 was

A) $296,000.
B) $396,000.
C) $476,000.
D) $616,000.