Carry each hourly rate and each overtime rate to 3 decimal places and then round off to 2 decimal places.

Ronald Dowd receives an annual base salary of $47,500 as a salesman in the Southern region, which has an annual sales quota of $450,000. For all sales over this quota, Dowd receives a commission of 4 percent. For the current year, sales in the Southern region total $698,000. The amount of salary and commissions due to Dowd is $.