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QUESTION #4 (5 Marks) Lesson 4-Fee Structure On January 4, 2007, David bought 350 units of the Savissa Growth Fund, at $12.34 per unit, for a total outlay of $4,319. He purchased the fund on a deferred sales charge (DSC) basis that is calculated on the market value, with the following schedule: Time of Redemption Charge Within the first year 7% year 6% 5% 4th year 4% 5th year 3% 2% 1% After 7th year No Charge 2nd 3rd year 6th year 7th year On May 15, 2013, David redeems 300 units of the fund at a NAVPU of $16.50. REQUIRED: How much cash does David receive after the units have been redeemed and the deferred sales charges have been applied? Show all of your work