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how to figure annual salary from hourly rate

It’s funny, I’ve always figured how much an hourly rate transmitted to annual salary by taking the hourly rate and muliplying by 2080 (number of work hours in a year), but today I stumbled across a simplier/quicker way to estimate this on Life After Coffee.  “…a simple way to estimate yearly income from hourly rate on the fly. Let’s say you are offered a job for $11/hour. If you assume you work 40 hours a week for 50 weeks a year you can simply double the hourly rate and that will be the yearly income in thousands, so $11/hour = $22,000/year.