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3. Write a Java program to calculate and print the monthly paycheck for an employee. The net pay is calculated after taking the following deductions:
3. Write a Java program to calculate and print the monthly paycheck for an employee. The net pay is calculated after taking the following deductions: Federal income tax 156 State income tax 55 Social security tax- 58 Medicare/Medicaid 35 Pension plan 79 Health insurance = $125.00 Your program should ask the user to input the employee ID, last name, first name, and the earnings (gross amount) for current month. The output should be the net pay, after deductions. Format the output to have 2 decimal places. NOTE: This assignment is all about formatting the outplet Sample output: Employee ID: Employee Name: 12345 John Doe EARNINGS Federal Tax State Tax Social Security Medicare/Medicaid Pension Plan Health Insurance 4500.00 675.00 225.00 225.00 135.00 315.00 125.00 NET PAY 2755.00
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