To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted $50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be?
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A $1,600
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B $1,625
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C$1,650
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D $1,675
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E $1,700