The given code is a pseudo code for an algorithm to calculate and prints the sales tax and the price of an item sold in a particular state.
The sales tax is calculated as follows: The state's portion of the sales tax is 4%, and the city's portion of the
sales tax is 1.5%. If the item is a luxury item, such as a car more than $50,000, then there is a 10% luxury tax
What is wrong with the following?
1. Get the selling price of the item
2 Determine whether the item is a luxury item
3. Find the luxury tax using the following formula:if (item is a luxury item) luxuryTex = salePrice x 0.1
otherwise luxuryTax = 0
4. Find the state's portion of the sales tax using the formula: stateSales Tax = Sale Price x 0.04
5. Find the city's portion of the sales tax using the formula: city Sales Tax = salePrice x. 0.015
6. Find salesTax using the formula: sales Tax = stateSales Tax + city Sales Tax + luxury Tax
7. Find amount Due using the formula: amountDue = salePrice + sales Tax
intamountDue, sales Tax
5
9. end