You are given a math word problem and you are supposed to make use of mathematical concepts like probability, combinatorics, linear equations, sequences/series, or simple operators like addition, subtraction, division, or multiplication to answer the given question. Choose the best option from the 5 given options and report that option.

Question: A piece of paper is in the shape of a right angled triangle and is cut along a line that is parallel to the hypotenuse, leaving a smaller triangle. There was a 35% reduction in the length of the hypotenuse of the triangle. If the area of the original triangle was 34 square inches before the cut, what is the area (in square inches) of the smaller triangle?

Option A: 16.665

Option B: 16.565

Option C: 15.465

Option D: 14.365

Option E: 14.378
Option D