Use the Table Below to Find the Real Wage in 2007

Multiple Choice

Use the table below to find the real wage in 2007 (in 2006 dollars) .
$\begin{array}{lcc}\frac{\text { Year }}{2006} & \frac{\text { Nominal Wage }(\$ / \text { hour }) }{\$ 12.50} & \frac{\text { CPI }}{155.0} \\ 2007 & \$ 13.00 & 160.0\end{array}$

A) $8.06
B) $8.13
C) $8.39
D) $13.00
E) $7.81