RulesHours Worked - integerRate of Pay – floatInput the above two variables and compute and display gross pay, taxes, and net payNOTE: all output should be formatted to currencyUsed Named Constants...

RulesHours Worked - integerRate of Pay – floatInput the above two variables and compute and display gross pay, taxes, and net payNOTE: all output should be formatted to currencyUsed Named Constants for all non-value changing numbers. e.g. Federal (see below)They get double time for any hours over 50 They get time and a half for any hours over 40 and up to 50 (maximum of 10)They get regular pay for all hours up to 40 Taxes to calculate on gross pay. Then subtract the taxes from gross pay to get net payFederal – 25.00%Minnesota State – 7.00%Social Security – 6.00%Medicare – 2.00%Output will be in the format:Enter the hours worked:Enter the rate of pay:The gross pay is:The taxes are:The net pay is:Use the following test data:Hours workedRate of payRun-1: 55 15.50Run-2: 45 20.75Run-3: 40 10.00Run-4 35 10.00