Yeah, there's shrinkage. You can just cut even with the upper triangle, as shown, or at an angle - you just need to end up with a straight edge.
I added the legs on, just like with the V. I wanted a jauntier angle across the top, so I sliced it and added one of the leftover background triangles. I evened up, following the lines of the letter.
And added side background the same way I did on the V.