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A realtor would like to examine the relationship between rental price and square footage of an apartment. He believes that the rent asked for an apartment can be predicted based on the square footage.

A random sample of $25\text{ apartments}$ was collected and a least square footage line was obtained with a slope = $1.0632$, a $y$-intercept of $83.527$, and $R^2$ value of $0.8165$.

Determine the predicted rental price for a $1{,}200\text{ ft}^2$ apartment.

A

$\$1{,}359.37$

B

$\$979.80$

C

$\$1{,}023$

D

$\$1{,}109.93$

E

Cannot be determined from the information given.

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