A common stock is expected to pay dividends as follows: the first 14 dividends are $116 at the end of each year for the first 14 years. After that, dividends are expected to increase at the rate of 2% per year indefinitely. The 15th dividend is 116(1.02), and so on. Calculate the price P of this stock to yield an annual effective rate of 5%. Possible Answers A 3101 B 3130 C3140 D 3150 E 4956