Question: Java: Assume that the taxes for citizens are calculated based on the annual income according to the following hypotheticals: For incomes of $20,000 or less,
Java: Assume that the taxes for citizens are calculated based on the annual income according to the following hypotheticals:
For incomes of $20,000 or less, calculate taxes as: taxes = income * 3%
For incomes more than $20,000 but less than $40,000, citizens pay 3% on the first $20,000 and 5% on the remaining income
For incomes equal or above to $40,000 but less than or equal to $100,000, citizens pay 5% plus $500 fixed amount
For incomes above $100,000, citizens pay 10%
The amount of taxes citizens pay per year must not exceed $20,000, regardless of income
Create a program that allows the user to enter the income as input. Once the user enters the income, your program determines and displays the amount of taxes for that user.
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