Final answer:
Nonmarketed claims to a firm's cash flows are legal fees and taxes, as they are obligatory cash outflows not traded on financial markets, unlike interest and dividend payments.
Step-by-step explanation:
The nonmarketed claims to a firm's cash flows typically refer to the cash outflows that are obligations but are not traded in financial markets. The correct options for nonmarketed claims in this context are legal fees and taxes
Option (a) Interest payments and option (c) Dividend payments are usually considered marketed claims because these are payments to investors who hold the firm's debt (in the case of interest) or equity securities (in the case of dividends) which are traded in financial markets.
Option (b) Legal fees are nonmarketed because they are payments for services by lawyers and are not tradable financial products. Option (d) Taxes are also nonmarketed claims as these are mandatory payments to government agencies and are not sold or traded in any market.