3. You are a fund manager of a wholesale fund that has $300m of capital commitments to be called in over a 3-year investment period ($100m/year). Your management fees are 0.25% on committed capital during the investment period and 0.4% on invested capital after the end of the investment period. In year 5 all capital will be returned to investors (assume no capital return). Calculate the total management fees charged to investors over the 5-year period. a. $2,700,000 b. $4,100,150 TOYO C. $2,400,000 d. $3,900,000