In all the following problems, use these tax rates and taxable wage: OASDI (Employees' and Employers' 6.2%, Self-Employed 12.4%) on first $117,000; HI (Employees' and Employers' 1.45%, Self-Employed 2.9%) on all taxable wages. Employees supplemental HI rate of 0.9% on wages in excess of $200,000 is not applicable to the following problems.

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? Round your answer to the nearest cent.