The application under § 32-10-15 for each fleet shall be accompanied by a total fee payment computed as follows:

(1) Divide in–state miles by fleet miles;

(2) Determine the total amount necessary to register every vehicle in the fleet for which registration is requested based on the regular annual registration fees prescribed by the South Dakota Codified Laws;

(3) Multiply the sum obtained under subdivision (2) by the fraction obtained under subdivision (1).

Source: SL 1961, ch 237, § 11 (2); SL 1977, ch 249, § 47.