A VC fund has a total committed capital of $100 million. The fund has a lifetime of 10 years, and a management fee of 2% per year on committed capital. We expect total exit proceeds to be $175 million, and the VC will earn a 20% carry, with a basis of all committed capital.

1)Now assume further that the fund's LPs have an 8% hurdle rate, after which the GP has a 100% catch-up provision. Assume that the fund has payouts of $103m in year 7, $6 million in year 8, $32 million in year 9, and the rest in year 10. Explain how these payouts are distributed each year. Enter each answer in millions of dollars, rounding to the nearest tenth of a million, and without entering units.In year 7, the LPs receive:

2)In year 7, the GP receives:

3)In year 10, the LPs receive:

4)In year 10, the GP receives:

*Please answer all four sub part questions!