Question: Problem 4-12 Calculating Fees (LO2) A sector fund specializing in commercial bank stocks had average daily assets of $5.4 billion during the year. Suppose the

Problem 4-12 Calculating Fees (LO2) A sector fund specializing in commercial bank stocks had average daily assets of $5.4 billion during the year. Suppose the annual operating expense ratio for the mutual fund is 0.70 percent, and the management fee is 0.45 percent. How much money did the fund's management earn during the year? If the fund doesn't charge any 125-1 fees, how much were miscellaneous and administrative expenses during the year? (Do not round intermediate calculations. Enter your answer in dollars not in millions, e.g., 1,234,567.) Management fee Miscellaneous and administrative expenses

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