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Selected information from Jimmy Corporation's accounting records and financial statements for 2006 is as follows (amounts in millions):

Selected information from Jimmy Corporation's accounting records and financial statements for 2006 is as follows (amounts in millions):


Cash paid to acquire equipment $18

Treasury stock purchased for cash 25

Proceeds from sale of land and buildings 45

Gain from the sale of land and buildings 26

Investment revenue received 33

Cash paid to acquire office equipment 40

On its statement of cash flows, Jimmy should report net cash outflows from investing activities of:

(A) $13 million

(B) $23 million

(C) $38 million

(D) $39 million

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