Two years ago, Marc invested $7,000 in the Call of Duty Mutual Fund which invests in gaming companies; he received 7,000 units. As of November 25, 2022, Marcs investment grew to $7.00/unit! Marc needed money to buy a PS5 and decided to sell 150 units. Marc is in the top marginal tax bracket. After taxes, deferred sales charges and commissions are paid, calculate the amount Marc will have remaining to buy his PS5 as he knows he needs around $700. Show calculations

Note: Use the Declining Redemption Schedule below to determine the back-end load fee using the second year (the amount of the fee is based on the value of the fund when it is redeemed (sold)). Marcs broker charges a 2% commission on the sale after the Deferred Sales Charge is applied.

\begin{tabular}{|l|c|} \hline \multicolumn{2}{|c|}{ Declining Redemption Schedule } \\ \hline \multicolumn{1}{|c|}{ Year funds are redeemed/sold } & Deferred Sales Charge \\ \hline Within the first year & 6% \\ \hline In the second year & 5% \\ \hline In the third year & 4% \\ \hline In the fourth year & 3% \\ \hline In the fifth year & 2% \\ \hline In the sixth year & 1% \\ \hline After the sixth year & 0% \\ \hline \end{tabular} TABLE A