9% Loan notes in issue were reported as £400,000 on 31 March 2011 and as £100,000 a year later. On 31 December 2011 a part of the Loan notes in issue was redeemed at 20% premium. What was the cash outflow on redemption of Loan notes during the year ended 31 March 2012?

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a £387,000 b £300,000 C c £240,000 d £360,000