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At the start of the year, the value of assets managed by Alliance Hedge Fund was $180 million. Over the year, the fund earned a

At the start of the year, the value of assets managed by Alliance Hedge Fund was $180 million. Over the year, the fund earned a gross return of 15% compared with the market index return of 9%. The fund manager charges a management fee of 1.5% of the asset value at commencement, and a performance fee of 20% above the market benchmark. Calculate the following information:

  1. The management fee is $__________ million.
  2. Excess dollar return above the market is $__________ million.
  3. Performance fee is $__________ million.
  4. Total fees earned by the manager over the year are $__________ million.

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