A hedge fund with $0.6 billion of assets charges a management fee of 2% and an incentive fee of 20% of returns over a money market rate, which currently is 6%. Calculate total fees, both in dollars and as a percent of assets under management, for portfolio returns of: (Enter your answers in millions rounded to 1 decimal place.)

Portfolio Rate of Return (%). Total Fee ($ million). Total Fee (%)

a. -3

b. 0

c. 6

d.12