除了具体计算，有没有从理解角度，可以快速判断的方法？

问题如下：

A commodity hedge fund has three investors:

• €100 million from Investor A invested at Year 0,

• €100 million from Investor B invested at the beginning of Year 2, and

• €100 million from Investor C invested at the beginning of Year 3. The gross returns before fees of the fund are as follows: The management fee is 2% based on end-of-year value. The incentive fee is 20% above the high-water mark and is calculated based on end-of-year value net of management fee. Which investor has earned the highest net return after the end of Year 4?

选项：

A.Investor A B.

Investor B

C.

Investor C

解释：