Good afternoon and thank you for inquiring with JustAnswer, my name is XXXXX XXXXX i will be the technician assisting you today. I do not believe the intake manifold runner control (IMRC) system is equipped on the '02 taurus 24V engine but if it is equiped for that year it will be on the driver's side of the lower intake manifold
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code P1507 refers to a fault with the IAC, which is the Idle Air Control valve, which sits on top of the throttle body and controls the amount of air allowed to bypass the closed throttle plate to keep idle at proper speed. See image below