A shovel costing $8.50 in August was marked up by 200%. In April of the following year, it was reduced

A shovel costing $8.50 in August was marked up by 200%. In April of the following year, it was reduced by 80%. What was the sale price?
A) $3.40
B) $5.00
C) $1.70
D) $10.20
E) $5.10

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