Consider a hedge fund that an annual fee of 1.5% and an incentive fee of 20% applied to profits above the risk free rate. Assume the risk free rate is 4%. Compute the net return to the investor if the gross return during the year is 15%, Select one: O a. 10.0% O b. 11.0% O c. 11.3% O d. 13.5% O e. 15.0%