Polk Co. acquires a forklift from Quest Co. for USD30,000. The terms require Polk to pay USD3,000 down and finance the remaining USD27,000. On March 1, Year 1, Polk pays the USD3,000 down and accepted delivery of the forklift. Polk signed a note that requires Polk to pay principal payments of USD1,000 per month for 27 months beginning July 1, Year 1. What amount should Polk report as an investing activity in the statement of cash flows for the year ended December 31, Year 1?
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