If the return on a passive, index-tracking fund is 5.9% and a particular active fund in the same sector returns 6.9%, what should be the return on the average active fund in the same sector, before fees, according to the article "The arithmetic of active management" by William Sharpe? Part 2 Attempt 1/3 for 10 pts. If fees on active funds in that sector are 1% of assets under management (AUM) on average, and are paid annually in arrears (at the end of each year), what is the annual return on the average active fund in that sector after fees