Barklay Has $782,490 in His Retirement Saving Plan and He

Barklay has $782,490 in his Retirement Saving Plan and he wants to start receiving income at the end of every three months for the next 22 years. The funds earn 7% compounded quarterly and he wants each payment that he receives to be 1.5% larger than the previous one. How much will the first payment be three months from now?

A) $2,675
B) $6,429
C) $10,050
D) $15,829
E) $17,767