The historical mean return to S&P$500$ is $10\%.$ A hedge fund charges $2$ plus $20\%.$ The incentive fee is paid on the net return $($if positive$)$ after management fees have been subtracted. Use this information to respond to questions $1-3.$ What return should the fund earn, before fees, to provide investors with the same rate of return as S&P$500?$

a$.13\mathrm{.}5\%$

b$.14\mathrm{.}5\%$

c$.15\mathrm{.}5\%$

d$.16\mathrm{.}5\%$