Borrowing long-term debt $200,000; Payment of cash dividends $15,000; Repurchase of treasury stock $40,000. What is the total cash flow from investing activities?

This choice incorrectly represents the cash flow by summing all the activities without considering their classifications. While the long-term debt of $200,000 is an inflow, it is a financing activity, not an investing activity. The cash dividends and treasury stock repurchase are also financing activities and should not contribute to investing cash flow.

This option suggests a total cash outflow that incorrectly includes the long-term debt as a cash outflow. However, borrowing long-term debt is not an investing activity and does not affect cash flow from investing activities. Therefore, this figure misrepresents the actual cash flows involved.

This choice miscalculates the cash flow by including both the cash dividends and the treasury stock repurchase as outflows, totaling $55,000. However, the addition of long-term debt as an outflow is erroneous, leading to an inflated negative cash flow that does not correspond to the investing activities.