2008 AMC 12B Problem 3

A semipro baseball league has teams with 21 players each. League rules state that a player must be paid at least 15,000 dollars, and that the total of all players' salaries for each team cannot exceed 700,000 dollars. What is the maximum possible salary, in dollars, for a single player?

\textbf{(A)}\ 270,000 \qquad \textbf{(B)}\ 385,000 \qquad \textbf{(C)}\ 400,000 \qquad \textbf{(D)}\ 430,000 \qquad \textbf{(E)}\ 700,000

Full credit goes to MAA for authoring these problems. These problems were taken on the AOPS website.