Ker buys a common stock that pays a dividend of $25 at the end of the first year, with each subsequent annual dividend being 3% greater than the preceding one. She purchases the stock at a price to earn an expected annual effective yield of 7%. Immediately after receiving the 15th dividend, Ker sells the stock at a price X. Her annual effective yield over the 15-year period is 9%. Calculate X. Possible Answers A 1408 B 1410 C 1418 D 1430 E 1440