2000 Pascal Problem 11

A store had a sale on T-shirts. For every two T-shirts purchased at the regular price, a third T-shirt was bought for \$1.00. Twelve T-shirts were bought for \$120.00. What was the regular price for one T-shirt?

\textbf{(A)}\ \$10.00\quad \textbf{(B)}\ \$13.50\quad \textbf{(C)}\ \$14.00\quad \textbf{(D)}\ \$14.50\quad \textbf{(E)}\ \$15.00

If there are no answer choices shown, enter a numerical answer.

Full credit to this problem is given to the CEMC, you may view all Pascal contests here.