Details

Write a Java program that calculates and prints the monthly pay check for an employee. The net pay is calculated after taking the following deductions:

Federal Income Tax: 15%
State Tax: 3.5%
Social Security Tax: 5.75%
Medicare/Medicaid Tax: 2.75%
Pension Plan: 5%
Health Insurance: $75.00

Your program should prompt the user to input the employee name and the gross amount. The out put will be stored in a file. Format your output to two decimal places. A sample output follows.

Allison Nields
Gross Amount: $3575.00
Federal Tax: $536.25
State Tax: $125.13
Social Security Tax: $205.56
Medicare/Medicaid Tax: $98.31
Pension Plan: $178.75
Health Insurance: $75.00
Net Pay: $2356.00