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A hedge fund with $1.7 billion of assets charges a managementfee of 2% and an incentive fee of 20% of returns over a moneymarket rate, which currently is 5%. Calculate total fees, both indollars and as a percent of assets under management, for portfolioreturns of: (Enter your answers in millions rounded to 1 decimalplace.)Portfolio Rate of Return (%) Total Fee ($ million) Â Â Total Fee (%)a. ?3%b. 0%c. 5%d. 10%
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