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Instructiоn 3-1 Use the fоllоwing tаx rаtes, ceiling аnd maximum taxes: Employee and Employer OASDI:   6.20%               $147,000                       $9,114 Employee* and Employer HI:        1.45%                No limit                         No maximum Self-employed OASDI:                    12.4%                $147,000                      $18,228 Self-employed HI:                             2.9%                  No limit                        No maximum ​ *Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed. ​ Rounding Rules: Unless instructed otherwise compute hourly rate and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimals places (round the hourly rate to 2 decimal places     before multiplying by one and one-half to determine the overtime rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, drop the third decimal place. ​ Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. Refer to Instruction 3-1. Ralston is the sole proprietor of Cut & Curl. During the year, his net earnings were $79,700. What are his self-employment taxes (OASDI and HI) on these earnings?  [BLANK-1]