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A business has the following financial information for the year:
Issued 10,000 shares of common stock for $20.00 per share
Issued long term debt of $500,000
Paid dividends of $85,000
Sold a piece of equipment of $50,000. The equipment had a book value of $20,000
Earned net income of $140,000
Based on the financial information presented above, determine net cash flow from financing activities for the year.
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