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23 Oct 2017, 18:39
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The lowest bid of all proposals for a refurbishment project of an old office building comes from a corporation that has no established reputation in the local business community. The highest bid is for more and comes from a business that is well known for quality work. The contracting officer decides to accept a bid for $32,000 which was 20% less expensive than the highest bidder. If the highest bid is four times the lowest bid, what is the lowest bid?
$5,000
$10,000
$20,000
$40,000
$60,000
$5,000
$10,000
$20,000
$40,000
$60,000
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