CSIS 161Project #4
Using theprintfstatement to format output:
Write a java program that calculates the property tax. Property tax is calculated on 92% of the assessed value of the property. For example, if the assessed value is $100000, the property tax is on $92000. Assume that the property tax rate is $1.05 for each $100 of the assessed value.
Your program should prompt the user to enter a person name and the assessed value of his/her property.
The output should be formatted asfollow:
Property Tax Report For:Mary Smith
Assessed Value:$100000.00
Taxable Amount:$92000.00
Tax Rate for each $100.00:$1.05
Property Tax:$966.00
Implementation details:
(1)You must use theconsolefor input and output(2)The output must be formatted using the%s, and%fspecifiers.You need not to use the%dspecifier since we do not have integers.(3)Outputted numbers must be formatted to only 2 decimal places(4)The $and namemust be aligned as above.(5)Must useprintfto format the output.(6)Make sure to test your program with different input data not just 100000.00. I would test it for example with data such as 9990, 1000000, and 999(7)Use finals when appropriate. Forexample.92 and 1.05 should be finals(8)Make sure to document your programsee the sample on how to document your program.(9)Zip the project folder and upload toCanvas
Hereissample runs:
What is your first and lastname?:
John Smith
What is the value of yourproperty?:
1000000
ProprtyTax Report For: John Smith
Assessed Value: $ 1000000.00
Taxable Amount: $ 920000.00
Tax Rate for each $100.00: $ 1.05
Property Tax: $ 9660.00
What is your first and lastname?:
Mary Anderson
What is the value of yourproperty?:
456453459
ProprtyTax Report For: Mary Anderson
Assessed Value: $ 456453459.00
Taxable Amount: $ 419937182.28
Tax Rate for each $100.00: $ 1.05
Property Tax: $ 4409340.41
What is your first and lastname?:
Lisa Jones
What is the value of yourproperty?:
1005000.99
ProprtyTax Report For: Lisa Jones
Assessed Value: $ 1005000.99
Taxable Amount: $ 924600.91
Tax Rate for each $100.00: $ 1.05
Property Tax: $ 9708.31