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Bigger Yacht hedge fund manages a portfolio worth $1.4 million. The fund charges an incentive fee of 20% of returns over the T-bill rate and

Bigger Yacht hedge fund manages a portfolio worth $1.4 million. The fund charges an incentive fee of 20% of returns over the T-bill rate and a management fee of 2%. T-bills yield 2.3%. What are total fees if the portfolio return is -1% (in $ million)?

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