Selected information from Maxwell Corporation's 2013 accounting records is as follows: Proceeds from issuance of common stock, $740,000; Proceeds from issuance of bonds, $2,400,000; Cash dividends paid on common stock, $200,000; Cash dividends paid on preferred stock paid, $80,000; Purchases of treasury stock, $200,000. What is the net cash provided (used) by financing activities for the year ended December 31, 2013?

a) $3,060,000

b) $2,940,000

c) $2,860,000

d) $2,660,000