a. You expect a tax-free municipal bond portfolio to provide a rate of return of 5.8%. Management fees of the fund are 0.78%. What fraction of portfolio income is given up to fees? (Round your answer to 1 decimal place.) Bond fund % b. If the management fees for an equity fund also are 0.78%, but you expect a portfolio return of 30.0%, what fraction of portfolio income is given up to fees? (Round your answer to 1 decimal place.) Equity fund c. For which fund might management fees be a bigger factor in your investment decision? Bond fund Equity fund