Query With Aggregate. I'm Stuck.

I want to return a list that contains each employee's ID, the date of their last payrate adjustment, and their current payrate. Note that in the table below, employee 1002 was a bad boy in March of 2005, and his hourly rate was reduced to 14.00.


TableName: Employees

EmployeeID............Date.............PayRate
-------------------------------------------
....1001...............1/24/03............12.50
....1002...............2/28/03............12.75
....1003...............5/14/03............10.50
....1002...............3/15/04............15.00
....1001...............6/22/04............14.00
....1002...............3/16/05............14.00

The result set should look like:

EmployeeID...........Date.............PayRate
-----------------------------------------
...1003................5/14/03............10.50
...1001................6/22/04............14.00
...1002................3/16/05............14.00