Wage Calculator with Tax Calculations

Develop an application that calculates an employee's earnings, as shown below.

 The user should provide the hourly wage and number of hours worked per week. When the Calculate Button is clicked, the employee's gross earnings should display in the Gross earnings: TextBox. The Less FWT: TextBox should display the amount deducted for federal taxes and the Net earnings: TextBox should display the difference between the gross earnings and the federal tax amount. You can use the format specifier C with String method Format, to format the result as currency. Assume that overtime is calculated for hours over 40 hours worked, overtime wages are 1.5 times the hourly wage and federal taxes are 15% of gross earnings. The Clear Button should clear all fields. Set the TextAlign properties of the Labels that show the results to MiddleRight so that the values are aligned at their decimal points.

Form1 = Wage Calculations                   This is the title                        

Hourly wage = wageLabel                      wageTextBox

Weekly hours= hoursLabel                     hoursTextBox

Gross earnings = earningsLabel               earningsResultLabel

Less FWT = fwtLabel                            fwtResultLabel

Net earnings = netEarningsLabel             netResultLabel

Clear = clearButton                              calculateButton