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Which one of the following is the best approximation of $(5.5\times{10}^{4})^{2}$ ?

A

$3.0\times{10}^{5}$

B

$3.0\times{10}^{6}$

C

$3.0\times{10}^{7}$

D

$3.0\times{10}^{8}$

E

$3.0\times{10}^{9}$

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