For the purposes of this chapter, full-time equivalency is calculated as a 1.0 FTE for every one hundred hours of instruction each month in a course of study as defined in WAC 392-121-107, a course of study shall encompass that instruction which will generate credit towards a high school diploma when successfully completed. Students who participate in more than one hundred hours may be counted for more than a 1.0 FTE. FTE shall be rounded to two decimal places (e.g., 1.725 would be reported as 1.73).