Write a program that calculates and prints the monthly paycheck fora n employee. The net pay is calculated after taking the followingdeductions: Federal IncomeTax: 15% StateTax: 3.5% Social SecurityTax: 5.75% Medicare/Medicaid Tax: 2.75% PensionPlan: 5% HealthInsurance: $75.00 Your program should prompt the user to input the gross amount andthe employee name. The output will be stored in a file. Format youroutput to have two decimal places. A sample output follows: Allison Nields GrossAmount: $3575.00 FederalTax: $536.25 StateTax: $125.13 Social SecurityTax: $205.56 Medicare/Medicaid Tax: $98.31 PensionPlan: $178.75 HealthInsurance: $75.00 NetPay $2356.00

1. Write a programthat calculates and prints the monthlypaycheck fora nemployee. The net payis calculated after takingthe followingdeductions:
FederalIncomeTax: 15%
StateTax: 3.5%
SocialSecurityTax: 5.75%
Medicare/Medicaid Tax: 2.75%
PensionPlan: 5%
HealthInsurance: $75.00
Your programshould prompt the user to input the gross amount andthe employee name. The output willbe stored ina file. Format youroutput to
have two decimalplaces. Asample output follows:
AllisonNields
GrossAmount: $3575.00
FederalTax: $536.25
StateTax: $125.13
SocialSecurityTax: $205.56
Medicare/Medicaid Tax: $98.31
PensionPlan: $178.75
HealthInsurance: $75.00
NetPay $2356.00