A manager can be of two types: good or bad. The manager knows her type but the owner of the company that might hire her only knows that the two types are equally likely. If types were perfectly observable, the owner would be willing to offer a wage 50 to a good manager and a wage x to a bad manager. Before applying for the job, the manager can participate in a training course. Participating in the training course would cost 20 for a good manager and 40 for a bad one. For which values of x is there a separating equilibrium where only a good manager participates in the training course?