To find out how much higher the equivalent hourly wage is than the living hourly wage, we first need to calculate the equivalent hourly wage for the annual salary of $121,991.
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Calculate the equivalent hourly wage: \[ \text{Equivalent Hourly Wage} = \frac{\text{Annual Salary}}{\text{Hours Worked per Year}} \] Assuming a full-time position typically has 40 hours a week and 52 weeks in a year: \[ \text{Hours Worked per Year} = 40 \text{ hours/week} \times 52 \text{ weeks/year} = 2080 \text{ hours/year} \] Now, we can calculate the equivalent hourly wage: \[ \text{Equivalent Hourly Wage} = \frac{121,991}{2080} \approx 58.65 \]
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Calculate the difference between the equivalent hourly wage and the living hourly wage: \[ \text{Living Hourly Wage} = 53.30 \] \[ \text{Difference} = \text{Equivalent Hourly Wage} - \text{Living Hourly Wage} = 58.65 - 53.30 = 5.35 \]
Thus, the equivalent hourly wage is $5.35 higher than the living hourly wage.
Final Answer: $5.35