During 2015, Stout Inc. had the following activities related to its financial operations:
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Carrying value of convertible preferred stock in Stout, converted into common shares of Stout
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$ 360,000
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Payment in 2015 of cash dividend declared in 2014 to preferred shareholders
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186,000
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Payment for the early retirement of long-term bonds payable (carrying amount $2,620,000)
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2,650,000
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Proceeds from the sale of treasury stock (on books at cost of $258,000)
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300,000
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The amount of net cash used in financing activities to appear in Stout's statement of cash flows for 2015 should be
$2,176,000.00
$2,548,000.00
$2,536,000.00
$1,990,000.00