Calculating Contingent Deferred Sales Loads. Ted Paulson needed money to pay for unexpected medical bills. To obtain $6,000, he decided to sell some of his shares in the Ridgemoor Capital Appreciation Fund. When he called the investment company, he was told that the following fees would be charged to sell his B shares:
First year: 5 percent withdrawal fee
Second year: 4 percent withdrawal fee
Third year 3: percent withdrawal fee
Fourth year: 2 percent withdrawal fee
Fifth year: 1 percent withdrawal fee
If he has owned the fund for 21 months and withdraws $6,000 to pay medical bills, what is the amount of the contingent deferred sales load?