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2. Yasuda Ventures is raising a $200M fund, Yasuda I, with annual management fees of 2.25% of committed capital for years 1-5. Then in years
2. Yasuda Ventures is raising a $200M fund, Yasuda I, with annual management fees of 2.25% of committed capital for years 1-5. Then in years 6-10, the fee level drops to 2.00%, while the fee basis switches to net invested capital. Assume that the fund is fully invested by the end of year 5 and that there will be no more follow-on investments. Fees are collected once a year on the first day of the year before any investments or exits are made for that year. Further assume that the fund exits all of its investments on the last day of year 10. What are the lifetime fees and investment capital of this fund
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