Alp, Inc. had the following activities during 2010:

• Acquired 2,000 shares of stock in Maybel, Inc. for

$26,000. Alp intends to hold the stock as a long-term investment.

• Sold an investment in Rate Motors for $35,000 when the carrying value was $33,000.

• Acquired a $50,000, four-year certificate of deposit from a bank. (During the year, interest of $3,750 was paid to Alp.)

• Collected dividends of $1,200 on stock investments.

In Alp’s 2010 statement of cash flows, net cash used in investing activities should be

a. $37,250

b. $38,050

c. $39,800

d. $41,000