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The recipe calls for 1/2 cup of butter. To answer the question in terms of cups to the nearest hundredth, we don't need to consider the quantity of popcorn kernels since it does not change the amount of butter required.
1/2 cup of butter is equal to 0.50 cups when rounded to the nearest hundredth. Therefore, Jennie needs 0.50 cups of butter.
So the correct answer is:
C. 1.50 (which represents 1/2 cup when using a decimal representation)