Last year, William earned $16.80 per hour working at his job. This year he received a 5% raise. Every day, he swipes his metro card twice, which costs $2.75 per ride. If he works for 7 ½ hours in one day, how much money will he take home at the end of the day?

A
$0.80

B
$114.20

C
$126.80

D
$132.30