Almost three years ago, Forrest purchased shares in Numera Canadian

Equity Fund, a back-end load mutual fund. Forrest's investment is

currently worth $35 400. He has decided that he would like to sell his

shares. Using the declining redemption schedule provided in Exhibit

13.3, determine the back-end load fee that Forrest will have to pay and

how much he will receive after paying the fee. NOTE: The amount of the

fee is based on the value of the fund when it is redeemed.