Problem $4-12$ Calculating Fees $($LO$2,$ CFA$1)$

A sector fund specializing in commercial bank stocks had average daily assets of $$5\mathrm{.}1$ billion during the year. Suppose the annual operating expense ratio for the mutual fund is $0\mathrm{.}60$ percent, and the management fee is $0\mathrm{.}35$ percent. How much money did the fund's management earn during the year? If the fund doesn't charge any $12b-1$ fees, how much were miscellaneous and administrative expenses during the year?

Note: Do not round intermediate calculations. Enter your answers in dollars not in millions, e$.$g$.,1,234,567.$

Management fee

Miscellaneous and administrative expenses