Write a JAVA application that reads the following information and

prints a payroll statement:

Employees name (e.g., John Doe)

Number of hours worked in a week (e.g., 10.50)

Hourly pay rate (e.g., 7.25)

Federal tax withholding rate (e.g., 20%)

State tax withholding rate (e.g., 9%)

Note that this application will use console input and output. A sample run of the console

input and output is shown below:

Enter employee's name: John Doe

Enter number of hours worked in a week: 10.50

Enter hourly pay rate: 7.25

Enter federal tax withholding rate: 0.20

Enter state tax withholding rate: 0.09

Employee Name: John Doe

Hours Worked: 10.50

Pay Rate: $7.25

Gross Pay: $76.13

Deductions:

Federal Withholding (20.00%): $15.23

State Withholding (9.00%): $6.85

Total Deduction: $22.08

Net Pay: $54.05

Notes:

1. All numbers are double type numbers and in the output, each number keeps only

two digits on the right of the decimal point.

2. 20.00% and 9.00% in the output should be dynamic, not static, which means

when the end user input 0.25 for the federal tax withholding rate, the output

should show 25.00% instead of 20.00%.

3. Your calculation results might be a little bit different (typically the last digit) from

the above results even when identical numbers are entered. This is because

floating-point numbers are not stored precisely.