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A year and a half ago, Mark purchased 5,000 shares in a mutual fund called Epic Inc. for $15.75/share. Mark decided to sell 3,000 shares
A year and a half ago, Mark purchased 5,000 shares in a mutual fund called Epic Inc. for $15.75/share. Mark decided to sell 3,000 shares on April 20, 2022, when the share price was at $19.95/share. His investment broker counseled him not to sell as the fund was a back-end loaded fund. Year funds are redeemed/sold Deferred sales charge Within the first year 6% In the second year 5% In the third year 4% In the fourth year 3% In the fifth year 2% In the sixth year 1% After the sixth year 0% What is the amount Mark will receive for the sale of these shares when the deferred sales charge is applied to the selling price (ignore income taxes)? A $94,762.50 B $56,857.50 . $56,259.00 D $9,607.50 E $16,012.50
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