The Following Information Relating to Equipment Was Extracted from the Records

Multiple Choice

The following information relating to Equipment was extracted from the records of Bright Skies Limited: Opening balance $360 000
Proceeds from sale of equipment $6000
Closing balance $400 000
Cost of equipment sold $40 000
Cost of new equipment $80 000
Carrying amount of equipment sold $ 10 000
The total cash flows from these 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.