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The steady, axisymmetric flow induced by a point sink (or source) submerged in an unbounded inviscid fluid is computed. The resulting deformation of the free surface is obtained, and a limit of steady solutions is found that is quite different to those obtained in past work. More accurate solutions indicate that the old limiting flow rate was too high and, in fact, the breakdown of steady solutions at a lower flow rate is characterized by the appearance of spurious wavelets at the free surface.