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Default simplify this formula

Here's the situation: I'm creating a time sheet.

I have the following:
Column C Column D
ArriveTime 8:30
LeaveTime 18:30
Hours 10.00
Overtime 2.00
Regular 8.00
Gross $407.00

Now, the formula in question is that for gross:

=IF(ISTEXT(D16),0,IF(ISBLANK(D15),D16*$D$4,((D16*$ D$4)+(D15*$D$4*1.5))))

where D16 is Regular, D15 is Overtime, $D$4 is the hourly rate. This
formula is copied to the right as needed, hence the absolute reference for
$D$4 (the hourly rate) and the relative references for all other variables.

I'm creating this time sheet for someone else, not for me, and therefore I'm
wondering if there's a way to simplify the above formula. Essentially, these
are the conditions:

1) Return 0 if D16 is blank
2) If D15 (overtime) is blank, multiply Regular hours by the hourly rate $D$4
3) Else, multiply regular hours times the hourly rate and add to that the
product of overtime hours times the hourly rate times 1.5.

Clear? I know the formula calculates correctly as is; I'm just curious if
some guru out there has a more concise way of doing the same thing.

Thanks for your help.

Dave

--
Brevity is the soul of wit.
 
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