A hedge fund with $0.8 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 3%. 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. -2 16.0 2.0

b. 0 16.0 2.0

c. 3 16.0 2.0

d. 6 ? ?