Design an algorithm to prepare a property tax report. Input consists of a series of records that contain the property type field, which indicates the type of property owned (H-home; C-commercial), the name of the property type field (N-nonresidence; R-residence), the commercial property type (L-commercial land; B-commercial building), the tract parcel number, and the assessed value. Output is to consist of the property Owner, parcel number, assessed value, tax rate, and property tax for each property in the input. In addition, totals for the following fields are to be printed at the end of the report:
Home-primary residence
Home-nonresidence
Commercial building
Commercial land
Total property taxes
The property tax is determined in the following manner:
1. If the property is a home, is used as the primary residence of the owner, and has an assessed value greater than $150,000.00, the tax rate is 2 percent of the assessed value
2. If the property is a home, is used as the primary residence of the owner and has an assessed value equal to or less than $150,000.00, the tax rate is 1.4 percent of the assessed value.
3. If the property is a home, but it is not the primary residence of the owner, and has an assessed value is greater than $95,000.00, the tax rate is 2 percent of the assessed value.
4. If the property is a home, but it is not the primary residence of the Owner and has an assessed value is equal to or less than $95,000'00, the tax rate is 1.4 percent of the assessed value'
5. If the property is a commercial building and the assessed value is Greater than $2OO,OOO.00, the tax rate is 2.5 percent of the assessed value.
6. If the property is a commercial building and the assessed value is equal to or less than $200,000.00, the tax rate is 2 percent of the assessed value.
7. If the property is commercial land and the assessed value is greater than $60,ooo.oo, the tax rate is 2.5 percent of the assessed value.
8. If the property is commercial land and the assessed value is equal to or less than $6O,OOO.OO, the tax rate is 2 percent of the assessed value. Use automatic end-of-file logic to signal the end of the input; assume all input values are valid.