On January 1, 2020, Lenny opened his first Tax-Free Savings Account (TFSA) and deposited $40,000. He invested this money in 4,000 shares in Quick Growth mutual fund at $10/share. As of today, April 29, 2020, Lenny's only investment grew to $26.00/share! Despite the great returns, Lenny is contemplating selling the shares. What would be the difference in his pocket if he sold them today at $26 or next year at the same price (assuming the same $26). This is a back-end loaded fund. Do not take taxes into consideration. Note: Use the Declining Redemption Schedule below to determine the back-end load fee that Lenny will have to pay (the amount of the fee is based on the value of the fund when it is redeemed). Lenny's broker also charges a 2% commission on the sale after the Deferred Sales Charge is applied. Declining Redemption Schedule 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% $1,250 O $1,019 No difference O $1,004 O $1,280 Ludovic was thinking about putting his home on the market when it was partially destroyed by a fire. His home has a replacement cost of $500,000, but his insurance coverage totals $380,000 in replacement cost. The fire caused $250,000 worth of damage to Ludovic's home. Note that Ludovic did not purchase sufficient insurance coverage equal to at least 80% of the house's total replacement value. What amount would the insurance company cover due to this fire damage? O $250,000 O $200,000 O $237,500 O $190,000 O $380,000