Final answer:
The regular price of the item is $425.
Step-by-step explanation:
To find the regular price of the item, we need to calculate the original price before the 28% discount was applied. Let's assume the regular price of the item is x. The equation for the discount is:
x - 0.28x = 306
Simplifying this equation, we get:
0.72x = 306
Dividing both sides by 0.72, we find:
x = $425
Therefore, the regular price of the item is $425. So, option b) $425 is the correct answer.