A hedge fund with $2.3 billion of assets charges a management fee of 2% and an incentive fee of 15% of returns over a money market rate, which currently is 6.8%. Calculate total fees, both in dollars and as a percent of assets under management, for portfolio returns of: Calculate total fees, both in dollars and as a percent of assets under management, for the portfolio returns in the table below. (Enter your answers for Total Fee ($ millions) in millions not dollars.)

portfolio rate of return total fee (in millions) Total fee (%)

a. -5

b. 0

c. 5

d. 10