SQLAlchemy calculated column

(New SQLAlchemy user alert) I have three tables: a person, the persons hourly rate starting at a specific date, and daily time reporting. I am looking for the correct way to have the cost for a Time base off of the persons hourly rate on that day.

Yes, I could compute the value at the time of creation and have that as part of the model, but think of this as an example of summarizing more complex data behind the curtain. How do I compute the Time.cost? Is it a hybrid_propery, a column_property or something completely different?

class Person(Base):
    __tablename__ = 'person'
    personID = Column(Integer, primary_key=True)
    name = Column(String(30), unique=True)

class Payrate(Base):
    __tablename__ = 'payrate'
    payrateID = Column(Integer, primary_key=True)
    personID  = Column(Integer, ForeignKey('person.personID'))
    hourly    = Column(Integer)
    starting  = Column(Date)
    __tableargs__ =(UniqueConstraint('personID', 'starting',
                                     name='uc_peron_starting'))

class Time(Base):
    __tablename__ = 'entry'
    entryID  = Column(Integer, primary_key=True)
    personID = Column(Integer, ForeignKey('person.personID'))
    workedon = Column(Date)
    hours    = Column(Integer)

    person = relationship("Person")

    def __repr__(self):
        return "<{date} {hours}hrs ${0.cost:.02f}>".format(self, 
                      date=self.workedon.isoformat(), hours=to_hours(self.hours))

    @property
    def cost(self):
        '''Cost of entry
        '''
        ## This is where I am stuck in propery query creation
        return self.hours * query(Payrate).filter(
                             and_(Payrate.personID==personID,
                                  Payrate.starting<=workedon
                             ).order_by(
                               Payrate.starting.desc())