The Following Three FIs Dominate a Local Market and Their

Multiple Choice

The following three FIs dominate a local market and their total assets are given below. $$\begin{array} { | c | r | } \hline \text { Institution } & \text { Asset Size } \\\hline \text { Bank A } & \text { \$50 million } \\\hline \text { Bank B } & \text { \$60 million } \\\hline \text { Bank C } & \text { \$90 million } \\\hline\end{array}$$ What is the Herfindahl-Hirschman Index (HHI) for the local market?

A) 1,000.
B) 3,450.
C) 3,550.
D) 3,400.
E) 60.