In all of the following problems, use these tax rates and taxable wage: OASDI4.2% on the first $110,100; HI1.45% on all taxable wages. 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?