Sentence Correction

Hi,
Would anyone suggest me why
There is a comma required after breeding
function of with in the sentence
what is the main clause and
what happens if we consider and as to introduce manin clause using it as a subject

in the listed below question.

the end of the eighteenth century saw the emergence of prize-stock breeding, with individual bulls and cows receiving awards, fetching unprecedented prices, and excited enormous interest whenever they were put on show.
(A) exicited
(B) it excited
(C) exciting
(D) would excite
(E) it had excited

IMO: C