If Adam Invested $25,000 in a Stock Paying Annual Dividends

If Adam invested $25,000 in a stock paying annual dividends equal to 5% of his investment, what would the value of his investment be 10 years from now assuming that he reinvested his after-tax dividends each year? Assume Adam's marginal ordinary tax rate is 15%.

A) $26,940
B) $40,722
C) $37,905
D) $101,139
E) None of these