(7 points) On December 31, 2018, the effective annual interest rate was 2%, and Mr. Gruber purchased 100 shares of company ABC. Starting in 2019, the company paid a quarterly dividend at the end of March, June, September, and December. The quarterly dividend on March 31, 2019 was $0.50. In every subsequent year, the quarterly dividend is increased by 1.2% per year. a) Assuming that Mr. Gruber paid a fair price for his shares, how much did he pay? Answer = $ Click for a hint b) At what rate do the quarterly dividends increase if the fair price of the 100 shares was $15,323.00? (Assume that the dividends are increased only once per year, and by a rate different than the 1.2% given earlier.) Answer = %. c) Mr. Gruber deposited the quarterly dividend payments he received into a savings account earning an effective quarterly interest rate of 0.15%. What will Mr. Gruber's balance be on December 31, 2020? Answer = $