A hedge fund has AUM of $ 100 million at the beginning of the year and earns a 20% return for the year. The fun charges a 2 % management fee on end of year portfolio value and a 15% incentive fee on the return , net of the management fees, that is in excess of a 6 % fixed hurdle rate. what is the total fee charged by the fund manager? plz be specici write the fomulas also.