问题如下：
Based on Tseng and Collin’s estimate of NAV next year, the estimate of carried interest next year is closest to:
选项：
A.$14.36 million.
B.$22.18 million.
C.$25.46 million.
解释：
A is correct.
Provided that NAV before distribution exceeds committed capital, the general partner is entitled to carried interest, calculated as the given 20% multiplied by the increase in NAV before distributions. So, the carried interest is calculated as follows:
Carried interest = 20% × ($242.32 – $170.52) = $14.36 million.
考点：绩效奖计算
解析：判断是否给GP发绩效奖，首先要看NAV before distribution 是否超过了committed capital。根据题目条件，NAV before distribution $242.32 million是超过了committed capital $115 million的，所以可以给GP发绩效奖。
绩效奖的计算= NAV before distribution的增加值*carried interest = ($242.32 - $170.52)*20% = $14.36 million.
老师您好，请问绩效奖的计算= NAV before distribution的增加值*carried interest 这个公式在哪里出现了呢？我
有个疑惑是，假设今年没有call down,假设去年没有提取业绩报酬，我分掉了部分收益，NAV下降了，从下降之后的NAV再做到了今年的before,和去年的Before相比我难道不是多赚出了分掉的部分么？为啥这部分不计奖金了？也就是说，假设我去年没有Distribution,今年我的before应该更高才对，为啥分掉了我就拿不到这部分多业绩报酬了呢？
