Simple program which calculates tax and net pay

Exercise1.java

public class Exercise1 {
  public static void main(String[] args) {
		java.util.Scanner input = new java.util.Scanner(System.in);
		System.out.print("Enter employee name: ");
		String employeeName = input.nextLine();
		System.out.println("Number of hours worked: ");
		int numberOfHoursWorked = input.nextInt();
		System.out.println("Hourly wage rate: ");
		double wageRate = input.nextDouble();
		System.out.println("Enter the Federal tax rate: ");
		double federalTaxRate = input.nextDouble();
		System.out.println("Enter the state tax rate: ");
		double stateTaxRate = input.nextDouble();
		double grossPay = wageRate * numberOfHoursWorked;
		double federalTax = grossPay * federalTaxRate;
		double stateTax = grossPay * stateTaxRate;
		double netPay = grossPay - federalTax - stateTax;
		System.out.println("Deduction of " + employeeName);
		System.out.println("Federal Tax: " + federalTax);
		System.out.println("State Tax: " + stateTax);
		System.out.println("Net Pay: " + netPay);
	}
}