(b)
When, in the case of an employee, it is necessary for computation of pay under this subsection to convert an annual rate of basic pay to a basic hourly, daily, weekly, or biweekly rate, the following rules govern:
(1)
To derive an hourly rate, divide the annual rate by 2,087.
(2)
To derive a daily rate, multiply the hourly rate by the number of daily hours of service required.
(3)
To derive a weekly or biweekly rate, multiply the hourly rate by 40 or 80, as the case may be.
Rates are computed to the nearest cent, counting one-half and over as a whole cent.