Why might shareholders demonstrate a preference for dividends over the firm reinvesting its earnings? Select one: O a. Investors may prefer future cash flows over current cash flows b. Investors may be reliant on dividends as a source of income OC Investors may be wealthy individuals in high income tax brackets O d. Each of these answers is correct. Which of the following situations would lead a firm to decrease the amount of its annual dividend? Select one: a Access to the capital markets expands Ob Research and development create more investment opportunities @ Earnings become more erratic Od Accounts receivable decreases as a result of its changing credit policy we None of the above would encourage lower dividends