Development planners determined the number of new housing units needed in a certain area by using the formula H = kJ, where H is the number of new housing units needed in the area, J is the number of new jobs to be created in the area, and k is a constant. How many new housing units did the planners determine were needed?

(1) The number of new jobs to be created was 60,000.

(2) According to the formula used by the planners, if 37,500 jobs were to be created, then 7,500 new housing units would be needed.

A:Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.

B:Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.

C:BOTH statement TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.

D:EACH statement ALONE is sufficient.

E:Statements (1) and (2) TOGETHER are NOT sufficient.