completely stuck on a seemingly simple conditional assignment

I keep getting an output of 2137.5 for some reason. I know I need a separate calculation for normal pay and overtime pay and to add them together, as far as I can see i've done that but i'm clearly going wrong somewhere. Thanks in advance!

3.1 Write a program to prompt the user for hours and rate per hour using input to compute gross pay. Pay the hourly rate for the hours up to 40 and 1.5 times the hourly rate for all hours worked above 40 hours. Use 45 hours and a rate of 10.50 per hour to test the program (the pay should be 498.75). You should use input to read a string and float() to convert the string to a number. Do not worry about error checking the user input - assume the user types numbers properly.

hrs = input("Enter Hours:")

rate = input("Enter Rate:")

h = float(hrs)

r = float (hrs)

reg = (40 * r)

oth = (h - 40)

otr = (r * 1.5)

otp = (oth * otr)

if hrs > 40 :

pay = (reg + otp)

else:

pay = (h * r)

print ("Pay:", pay)