During 2022, Novak Corp. sold equipment with a book value of $182400 for proceeds of $220400. The company purchased new equipment for $486400 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2022. The investing section of the statement of cash flows will report net cash inflows of $38000. net cash outflows of $448400. net cash inflows of $220400. net cash outflows of $266000.

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A:

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