Milliken Company paid $2.2 million to purchase stock in another company,$1.0 million to repurchase treasury shares,$.5 million to buy short-term investments,sold used equipment for $.8 million when its book value was $.6 million,and purchased new equipment for $3.4 million.How much will be reported as net investing cash flow?
A) $6.3 million net cash outflow.
B) $5.3 million net cash outflow.
C) $5.1 million net cash outflow.
D) $4.8 million net cash outflow.
Correct Answer:
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