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You invested $1,450,000 with a market-neutral hedge fund manager. The fee structure is 2/20, and the fund has a high-water-mark provision. Suppose the first year

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You invested $1,450,000 with a market-neutral hedge fund manager. The fee structure is 2/20, and the fund has a high-water-mark provision. Suppose the first year the fund manager loses 6 percent and the second year she gains 15 percent. Assume management fees are paid at the beginning of each year and performance fees are taken at the end of each year. What are the management and performance fees paid each year? (Leave no cells blank - be certain to enter "O" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Management fees Performance fees Year 1 Year 2 $ 29,000.00 $ 26,715.00 0$ 23.490.00 X $

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