Please help me with this using java Part A - Loading the ArraysComplete the following program. The better formatted and interesting youroutput and inputs the better chance you have of pleasing your customer.Revenue Canada wants you to develop a program that calculates the tax owed for the toptwenty CEOS in Canada. You will need to create a file containing the CEO's names, theircompany name arnd iheir annual salary in separate lines, You can choose a different group ofpeople if you like.Kevin LoughreyThompson Creek Metals Co. Ine.Here is an example of how the file shouldlook like, Note that this example onlycontains data for 6 people. You will need3356000.00James BalsillieResearch In Motion Ltd.to research the information and ndd to141594333.00your own text file.Prem WatsaFairfax Financial Holdings Ltd.arkRed Back Mining Inc.3310667.00John ShackletonOpen Text Corp.4861667.00Your task is to develop a program thatcalculates the tax owed for these CEOS,displays this information and saves it intoa second file named taxInfo.txt.John WrightPetrobank Energy and Resources Ltd.4353333.00To get you started, software experts atRevenue Canada have provided you with the following IPO chart and pseudo code.IPO ChartTaxpayer file - taxpayer.txt containing Name (string), Company information(string), Salary (double)If salary is less than or equal to $10000000.00InputProcessingTax rate is 40%Tax owed is equal to salary times the tax rateElseTax rate is 53 %Tax owed it equal to salary times the tax rateTax information file - taxInfo.txt AND screen output containingName (String) Company (String), salary (double), Tax Owed (double)Output Pseudo code:Main method:1. Setup the taxpayer file for input2. Setup the taxinfo file for output3. For the first twenty recordsa. Read one record from the taxpayer file (Name, Company, Salary)b. Save into three arrays (String, String, double)c. If salary = 10000000,00i, taxRate = 40.00d. otherwisei. taxRate = 53.00e. Calculate the tax owed ( call method calc Tax(salary, taxRate))f. Write the record to the taxInfo file4. Close the taxpayer file5. Close the taxrate file6. Display a status message on the screen (e.g. records stored in file.)7. Display the records on the screenOther methods:calc Tax method (double salary, double taxrate) returns tax owed1. tax owed = salary * taxrate / 1008. Return tax owedThe output file of your program should look like for the first 3 records:Kevin LoughreyThompson Creek Metals Co. Inc.3356000.001342400.00James BalsillieResearch In Motion Ltd.141594333.0075044996.49Prem WatsaFairfax Financial Holdings Ltd.619,000,00247,600.00

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Programming language used - Java
All necessary comments are included in program code.…