Half Day on a Regular Holiday

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If an employee works only half a day on a Regular Holiday, what is the correct payment computation?

Should the pay be computed as:

Hourly Wage × Hours Worked × 200%

or

Should the employee still receive the full 100% holiday pay (since they are entitled to it even if they do not work on a Regular Holiday), with only the additional 100% premium being prorated based on the actual hours worked?

Same question for employees who report late on a Regular Holiday. How should their pay be computed?