A garage owner buys a job lot of 500 feet of #12-gauge wire. The price is $0.17 per foot. The next day, the price of this wire increases 15 1/4%. How much is saved by purchasing the wire at the lower price? Express the answer to the nearest cent.
A. $10.89
B. $11.83
C. $12.96
D. $13.77
Answer: C
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