Formating based on value between two numbers

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Hello there, I've got a question for some pro's out there.

First off, I need to be able to format cells based on the values in a different cell. Basically when purchasing equipment for our job, different priced equipment requires a different level of signatures required before we can make the purchase.

Say for example:

We have 4 people whose signatures we may or may not need to get based on the values of the equipment.

Say we have the people’s names across a row 2 like this and a price column after the last name.
| __A_ |__ B _| _C_ |_ D_ |_ E_ |
2| Bob | Mike | Jack | Jeff | Price |
3|____ |_____ |_____|___ |____ |

Now i want to format the cells beneath the name to be grayed out based on the value in price.

Say if the item is less than or equal to 500, that only Bob's signature is required so Mike, Jack and Jeff's name are grayed out.


Say if the item is greater than 500 and less than or equal to 5000, both Bob's and Mike's signatures are required so Jack and Jeff’s name are to be grayed out.

Say if the item is greater than 5000 and less than or equal to 50000, both Bob, Mike, and Jack's signatures are required so Jeff’s name should be grayed out.

Say if the item is greater than 50000, all four signatures are required, and no names should be shaded out.

I need to encompass this in one line. Any ideas? I have no idea how to approach this whether or not I need a macro and how I should write the macro considering I’ve never really used macro's in excel before.
 

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