The New Fund had average daily assets of $4.0 billion in the past year. The fund sold $418 million and purchased $518 million worth of stock during the year. What was its turnover ratio? (Round your answer to 2 decimal places.)

Turnover ratio

%

2.

The New Fund had average daily assets of $3.7 billion in the past year. New Funds expense ratio was 2.6% and the management fee was 2.2%.

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.)

Total fees paid

$ million

b.	What were the other administrative expenses? (Enter your answer in millions rounded to 2 decimal places.)

Other administrative expenses

$ million