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Suppose that a $200M VC fund has a management fee of 2.5% per year for the first five years, with a reduction of .25% (25

Suppose that a $200M VC fund has a management fee of 2.5% per year for the first five years, with a reduction of .25% (25 basic points) in each year thereafter. All fees are paid on committed capital, and the fund has a ten-year life. What are the lifetime fees and investment capital for this fund?

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