To simplify 12/16 to lowest terms, we can divide both the numerator and denominator by their greatest common factor, which is 4:
12/16 = 3/4
Now we need to find an equivalent fraction with a denominator of 32. To do this, we can multiply both the numerator and denominator of 3/4 by 8:
3/4 = (38)/(48) = 24/32
So the answer is C. 3/4, 24/32.