Please use an excel file to do the question. Thank you.

SECTION B - Calculation Questions (29 marks) Please use an excel file to answer all the calculation questions in Section B. After that please submit the excel file to the assessment link on the blackboard. Question 1 (10 Marks) You are given the following information for a hedge fund with high watermark requirement and a fee structure of "I and 20". Based on the available information, please complete the following parts. a. Calculate the return for each year and also decide the high watermark: b. Calculate the management fee in dollars, assume it is 1% c. Calculate the incentive fee net of management fee in dollars; d. Lastly calculate the net returns to the investors. Please show full workings in the space below. (10 marks) Year 1 300,000 375,000 Year 2 375,000 285,000 Year 3 285,000 370,000 Year 4 370,000 425,000 10% 10% 10% 10% Initial Value Ending Value Return High Watermark Hurdle rate Management fee (S) Incentive fee net of management fee (S) Net returns to investors SECTION B - Calculation Questions (29 marks) Please use an excel file to answer all the calculation questions in Section B. After that please submit the excel file to the assessment link on the blackboard. Question 1 (10 Marks) You are given the following information for a hedge fund with high watermark requirement and a fee structure of "I and 20". Based on the available information, please complete the following parts. a. Calculate the return for each year and also decide the high watermark: b. Calculate the management fee in dollars, assume it is 1% c. Calculate the incentive fee net of management fee in dollars; d. Lastly calculate the net returns to the investors. Please show full workings in the space below. (10 marks) Year 1 300,000 375,000 Year 2 375,000 285,000 Year 3 285,000 370,000 Year 4 370,000 425,000 10% 10% 10% 10% Initial Value Ending Value Return High Watermark Hurdle rate Management fee (S) Incentive fee net of management fee (S) Net returns to investors