Consider two investments. At the end of the year, before fees, you have a $$1\mathrm{.}0$ million investment in a hedge fund that charges $1\mathrm{.}5\%$ in management fees

and $15\%$ in incentive fees over a threshold of $7\%.$ Also at the end of the year is the second investment of $$1\mathrm{.}0$ million in a mutual fund that has an

expense ratio of $1\mathrm{.}5\%$

The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.

Do not round intermediate calculations. Round your answers to two decimal places.

Open spreadsheet

Compute the after fee return for each investment if the hedge fund had earned $16\%$ and the mutual fund had earned $13\%.$

Hedge fund's return:

$\%$

Mutual fund's return:

$\%$