This must be in JAVA.

Write a program that computes the income tax according to the 1913 tax schedule below.

 1 percent on the first $50,000. 

 2 percent on the amount over $50,000 up to $75,000. 

 3 percent on the amount over $75,000 up to $100,000. 

 4 percent on the amount over $100,000 up to $250,000. 

 5 percent on the amount over $250,000. 

The output of the program shall be

 The tax payable would be $ xx 

where xx is the result.