A new hedge fund manager begins the year with $50mm (million). She has an extremely successful year and earns a gross return of 35%. Assume her hedge fund charges a 2% management fee (charged on beginning of period assets under management, but payable at the end of the period) and a 20% performance fee. What will the client's return after fees be in percentage terms and, in dollar terms, how much revenue will the manager receive from all fees?

Group of answer choices

26% return, $3.3mm fee

28% return, $4.5mm fee

26% return, $4.3mm fee

28% return, $3.5mm fee