To qualify for benefits, an individual must have been paid total wages for employment in the base period in an amount:
(1) not less than 1 1/2 times the wages earned in the calendar quarter in which wages were the highest during the base period; however, the total wages in the base period must be equal to or greater than 7% of the average annual wage described in 39-51-2201; or
(2) equal to or greater than 50% of the average annual wage described in 39-51-2201.