Wilma purchased shares in the Horizon Growth Fund. The fund charges a back-end load with a declining redemption charge based on the initial purchase price. She purchased 500 shares of the fund when the net asset value was $10 per share. She decided to redeem all of her shares in the fifth year when the NAV was $14. The fund charges a redemption fee of 6% in the first year, 5% in the second, 4% in the third, 3% in the fourth, 1.5% in the fifth and 0% in the sixth year. What amount did Wilma receive when she sold the shares? a) $6,860. b) $6,895. c) $6,900. d) $6,925