24. Which of the following is a source of cash flows? a. increase in marketable securities b. increase in accounts payable c. decrease in notes payable d. repurchase of stock 25. You have a chance to buy an annuity that pays $3,300 at the beginning of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity? a. $10,426.07 b. $7,420.36 c. $9,392.86 d. $7,138.57 e. $10,801.78 26. What is the present value of the following cash flow stream at a rate of 11.5% ? Years: CFs: a. $9,109.07 b. $8,328.29 c. $8,675.31 d. $9,369.33 e. $9,282.58