Question

What was the starting salary for the position of Chief Financial Officer (CFO) at CanAl Investment Company if they spent $36,357.59 in total recruiting costs and paid Universal Executive Search Inc. 20% of the starting salary?

A) $120,000
B) $130,000
C) $140,000
D) $150,000

Answer 1

By calculating 20% of the starting salary from the total recruiting costs of $36,357.59, it was determined that the starting salary would be $181,787.95, which does not match any of the provided answer options. There seems to be an error in the provided options.

Step-by-step explanation:

To solve for the starting salary of the Chief Financial Officer (CFO) at CanAl Investment Company, we can begin by understanding that Universal Executive Search Inc. was paid 20% of the starting salary as a recruiting cost. Since the total recruiting costs amounted to $36,357.59, we can calculate the starting salary using the following steps:

1. Let the starting salary be represented by S.
2. Universal Executive Search Inc. receives 20% of S, so their payment is 0.20 * S, which equals $36,357.59.
3. To find the starting salary, S, we divide the total recruiting costs by 20%: S = $36,357.59 / 0.20.
4. After dividing, we find that the starting salary is $181,787.95.

By reviewing the available options, we see that none match this value. Therefore, we do not have a correct answer option provided.