At the beginning of the year, you invest $10,000 in an S&P 500 index fund. This fund charges an annual fee of 0.1% of your end-of-year assets at the end of the year. Your friend invests $10,000 in an actively managed fund that charges 1.4% of end-of-year assets at the end of the year. Before fees are taken into account, the index fund is up 9.0% at the end of the year while the actively managed fund is up 9.5%. After fees, how does your performance compare to your friends?

a- You are $92.40 richer.

b- You are $191.32 richer.

c- Your friend is $57.25 richer.

d- Your friend is $362.98 richer.

e- Your wealths are the same.