The total cost of 2 bracelets and 3 necklaces is $15.50. The total cost of 4 bracelets and 1 necklace is $13.50. Let b represent the cost of each bracelet and n represent the cost of each necklace. This situation can be represented by the following system of equations.

{2b+3n=15.504b+n=13.50

What is the cost of one bracelet?

A
$2.50

B
$7.75

C
$5.00

D
$3.50