Consider the Following Events $\bullet$ 25,000 Shares of Preferred Stock, Cumulative, 5%, $10 Par Was

Consider the following events:
$\bullet$ 25,000 shares of preferred stock, cumulative, 5%, $10 par was issued for $15 a share.
$\bullet$ The annual cash dividend was declared and paid to the above preferred stock.
$\bullet$ The company purchased 12,000 shares of common stock at $17 per share to be held as Treasury stock.
$\bullet$ Interest of $8,000 was paid to bondholders.
$\bullet$ Bonds Payable with a par value of $100,000 were retired at $108,000.
Compute the net cash flow from financing activities (parentheses indicate an outflow) :

A) $ 58,500
B) $(71,500)
C) $ 50,500
D) $ 45,500