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.
$\begin{array}{lccc} \text {Institution }& \text { Asset Size}\\ \text {Bank A}&\$ 50 \text { million}\\ \text {Bank B}& \$ 60 \text { million}\\ \text {Bank C}&\$ 90 \text { million}\\\end{array}$
What is the Herfindahl-Hirschman Index (HHI) for the local market?

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