问题如下：
3 Based on Exhibit 1 and Exhibit 2, the Yellow Wood Fund’s 2016 investment management fee is:
选项：
A.3.00%
4.20%
4.50%
解释：
B is correct.
The fund’s fee schedule includes a base fee of 1.50% and a 20% performance-based fee. The performance-based fee is applied after the base fee is deducted. The total fee is calculated as follows:
1.5% + [20% × (15% – 1.5%)] = 4.20%
老师好！题干中写的是【investment management fee】，这道题的答案计算的不应该是【performance fee】吗？
