4. A high water mark of 150 million was established two years ago for a British hedge fund. The end-of-year value before fees for last year was 140 million. This year's endof-year value before fees is 155 million. The fund charges " 2 and 20 ." Management fees are paid independently of incentive fees and are calculated on end-of-year values. What is the total fee paid this year? A) 3.1 million. B) 4.1 million. C) 6.1 million