Almost three years ago, Forrest purchased shares in Numera Canadian Equity Fund, a back-end load mutual fund. Forrest’s investment is currently worth $34 400. He has decided that he would like to sell his shares. Using the declining redemption schedule provided in Exhibit 13.2, determine the back-end load fee that Forrest will have to pay and how much he will receive after paying the fee. The amount of the fee is based on the value of the fund when it is redeemed.