Final answer:
To find the retail price of the hat with a 55% markup on the original cost of $16, first calculate the markup amount and then add it to the original cost. The calculated retail price of the hat is $24.80.
Step-by-step explanation:
The student's question is about calculating the retail price after a 55% markup on an item initially costing 16 dollars. To answer, first find the value of the markup by multiplying the original cost by the markup percentage, converted to a decimal:
Markup: $16 × 0.55 = $8.80
Next, add this markup to the original cost to find the retail price:
Retail price: $16 + $8.80 = $24.80
Therefore, the correct answer is C. $24.80.