There are 52 weeks in a year. Take 31,000.06 divided by 52. Then divide by 40 hours in a week. You come up with $14.90. Alternatively, you could divide 31,000.06 by 2080--the number of working hours in a year if you work fulltime, and that pay does not include overtime, and you had no sick days or times you weren't getting paid. Also, that number includes paid holidays.
Do NOT divide by 12 months and then four weeks. Why? This gives you 48 weeks, so you are missing four weeks.
Do NOT divide by 12 months and then four weeks. Why? This gives you 48 weeks, so you are missing four weeks.