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A hedge fund with $2.1 billion of assets charges a management fee of 2% and an incentive fee of 20% of returns over a money

A hedge fund with $2.1 billion of assets charges a management fee of 2% and an incentive fee of 20% of returns over a money market rate, which currently is 4%. Calculate total fees, both in dollars and as a percent of assets under management, for portfolio returns of: (Enter your answers in millions rounded to 1 decimal place.) Portfolio Rate of Return (%) Total Fee ($ million) Total Fee (%) a. 4 b. 0 c. 4 d. 8

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