Problem - Alpha Company reported net income of $340,000 for the current year. Included in the computation of net income were:

Depreciation expense                                     $60,000

Amortization of a patent                                  32,000

Income from an equity-method investment       48,000

Amortization of a bond discount                       12,000

Paid a dividend on preferred stock                   80,000

What is the amount of net cash provided by operating activities that would be reported as a result of these transactions?

$420,000

$396,000

$372,000

$316,000