Write a Java application that follows the formulas below cal

Write a Java application that follows the formulas below, calculates all the numbers step by step, and finally prints out the State tax one owes.

Federal taxable income = $80,000

Federal tax = Federal taxable income X Federal tax rate (which is 28%)

State tax base = Federal tax – State deductible (this deductible is $10,000)

State tax owed = State tax base X State tax rate (which is 15%

Solution

//Tested on eclipse

/*******************Tax.java***************/

public class Tax {

   public static void main(String args[]) {
       /* Variable declaration with initializing */
       int federalTaxableIncome = 80000;
       int federalTaxableRate = 28;
       int stateDeductible = 10000;
       int stateTaxRate = 15;
       double stateTaxBase;
       double stateTaxOwed;

       /* calculating federalTax based on formula */
       double federalTax = (federalTaxableIncome * federalTaxableRate) / 100;
       /* calculating stateTaxBase based on formula */
       stateTaxBase = federalTax - stateDeductible;
       /* calculating stateTaxOwed based on formula */
       stateTaxOwed = (stateTaxBase * stateTaxRate) / 100;

       /* Printing stateTaxOwed value after calculation */
       System.out.println(\"State tax owed is \" + stateTaxOwed);

   }
}

/**************output************/

State tax owed is 1860.0

Thanks a lot