Last year, Company X paid out a total of $1,050,000 in salaries to its 43 employees. If no employee earned a salary that is more than 20% greater than any other employee, what is the lowest possible salary that any one employee earned? Choose the correct option:  A) $20,428.01  B) $41,667  C) $42,000  D) $50,000  E) $60,000
Employee 1 earned $x(say)   Employee 2 will not earn more than $1.2x   Therfore, to minimize the salary of any one employee, we need to maximize the salaries of the other 42 employees   (1.2x*42)+x=1,050,000   Solving for x=$20,428.01   $20,428.01nswer $20,428.01
<result>A</result>
Last year, Company X paid out a total of $1,050,000 in salaries to its 43 employees. If no employee earned a salary that is more than 20% greater than any other employee, what is the lowest possible salary that any one employee earned?