An analyst gathers the following information about a hedge fund's first year of operations:

Beginning-of-year assets under management	$100,000,000
Management fee based on end-of-year assets under management	2%
Incentive fee, calculated net of the management fee	20%
Annual gross return	15%
Soft hurdle rate	5%

The total fees (in $millions) earned by the hedge fund in Year 1 are: