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Suppose that Hedge Fund A charges `1 plus 25% and Hedge Fund B charges `2 plus 20%. Which return before fees (gross return) does each

Suppose that Hedge Fund A charges `1 plus 25% and Hedge Fund B charges `2 plus 20%. Which return before fees (gross return) does each fund need to earn such that the funds returns after fees are equal?

a.

17%

b.

6.7%

c.

19%

d.

15.6%

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