Problem $20-11($Algo$)$

Required:

A hedge fund with $$2\mathrm{.}3$ billion of assets charges a management fee of $2\%$ and an incentive fee of $20\%$ of returns over a money market

rate, which currently is $6\%.$ Calculate total fees, both in dollars and as a percent of assets under management, for portfolio returns of:

$($Enter your answers In millions rounded to $1$ decimal place.$)$