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The volume formula for a rectangular box is V = l x w x h, where l is the length, w is the width, and h is the height.
Plugging in the given dimensions:
V = 12 ft. x 12 ft. x 34 ft.
V = 4896 ft³
Therefore, the volume of the rectangular cereal box is 4896 ft³, which cannot be simplified further into a fraction.
So, the closest answer is 4896 ft.3.