Write a program IN JAVA that prompts the user for the wholesale price and markup percentage of an item. The program should invoke a method to calculate the retail price of the item.

You will need:

A scanner object to read the wholesale price and the markup percentage (Note: make sure you let the user know how the percentage should be entered. If it is in a percent format like 25% it would need to be converted to decimal for calculations. If the user entered it as a decimal format then no conversion is necessary.)

Variables to store:

a. The wholesale price (as a double)

b. The markup (as a double convert if entered as a %

c. (Optional: The retail price, which stores the returned retail value from the method. Keep in mind that you can use the method call directly in an output statement.)

3. A NumberFormat object to display the retail price in currency format (Optional: you can also create a format for the percentage, but it is not as important.)

A method that:

Accepts 2 parameters the wholesale price and markup percentage

Calculates the retail price

Returns the retail price value

Comments where necessary

A sample of the output is shown below:

Enter the item's wholesale cost: 60 Enter the item's markup percentage (as a %): 75 The item's retail price (at a 75% markup) is $105.00