You pay $21,600 to the Laramie Fund at the beginning of the year. The fund deducted a front-end load of 2%. The securities in the fund increased in value by 10% annually. The fund's expense ratio is 1.5% and is deducted from year-end asset values. The back-end load fees start at 5% and fall by 1% for each full year the investor holds the fund (until the fifth year). What is the value of the fund if you sell your fund at the end of year 4?