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The New Fund had average daily assets of $3.8 billion in the past year. New Funds expense ratio was 1.3% and the management fee was

The New Fund had average daily assets of $3.8 billion in the past year. New Funds expense ratio was 1.3% and the management fee was 0.8%. a. What were the total fees paid to the funds investment managers during the year? (Enter your answer in millions rounded to 2 decimal places.) b. What were the other administrative expenses? (Enter your answer in millions rounded to 2 decimal places.)

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