$4.$ A hedge fund sets its fee at $2\%$ and a $20\%$ carry with an $10\%$ benchmark. How much money will a hedge fun make in fees over the course of a year if the fund started at $$2,500,000$ and ended the year at $$2,800,000?($Hint: The $2\%$ fee is calculated on the basis of the fund's year$-$end value. The $20\%$ carry is calculated on the basis of year$-$end's fund value over the benchmark.$)$

a$.$ $$63,100$

A

b$.$ $$65,400$ c$.$ $$66,000$

d$.$ $$67,600$

$5.$ Consider a no$-$load mutual fund with $$250$ million in assets, $20$ million in debt, and $12$ million shares outstanding at the start of the year; and $$300$ million in assets, $22$ million in debt, and $13$ million shares outstanding at the end of the year. During the year investors have received income distributions of $$0\mathrm{.}65$ per share, and capital gains distributions of $$1\mathrm{.}25$ per share. Assuming that the fund's total expense ratio is $0\mathrm{.}59\%,$ what is its holding period return for the

year? a$.20\mathrm{.}53\%$

b$.20\mathrm{.}66\%$ c$.20\mathrm{.}75\%$

d$.20\mathrm{.}89\%$