5. Consider a hedge fund with $100 million at the start of the year. The benchmark S&P 500 Index was up 20% during the same period. The gross return on assets is 30%, and the expense ratio is 1%. For each 1% above the benchmark return, the fund managers receive a 0.2% incentive bonus, 1) Figure out the management cost (S) based on the end-of-year balance. (20points) 2) Figure out the annual return (%) based on the end-of-year balance. (20points)