Bailey is a new employee at Milicents. She is paid a salary of $86,000. She has been working 50 plus hours each week on a project for a new, high profile client. She asks her manager whether she will be paid overtime compensation for all of the extra hours she has worked. Her manager is most likely to respond with which of the following statements? Bailey, you will be paid overtime compensation under the Fair Labor Standards Act because your salary is higher than $50,000 per year. Bailey, you will not be paid overtimo componsation under the Fair Labor Standards Act because our firm has less than 50 employees Bailey, you will not be paid overtime compensation under the Fair Labor Standards Act because you are a professional and are exempt from overtime compensation under the FLSA. Bailey, you will not be paid overtime compensation under the Fair Labor Standards Act because you did not report your overtime hours in the week they were worked