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Calculating Increased Stock Price

GMAT-LS1YET

At the close of business, a particular stock was up by $230\%$ of the previous day's price. If the stock was selling at $\$34.40$yesterday, before the increase, what is its new price? A$\$79.12$

B

$\$68.80$C$\$110.08$

D

$\$113.52$E$\$55.40$