A transaction record on a sales commission file contains the retail price of an item sold, a transaction code that indicates the sales commission category to which an item can belong, and the employee number of the person who sold the item. The transaction code can contain the values A, B or C, which indicate that the percentage commission will be 6%, 8% or 10% respectively. Construct an algorithm that will read a record on the file, calculate the commission owing for that record, and print the retail price, commission and employee number.
Based on the feedback received for Question 3 in Assignment 1, transform your algorithm into a JAVA program. Your code should contain appropriate validations and must focus on code optimization.
Modify the code to repeat the program until the user enters an income value of -1. Briefly, explain (150-200 words) the logic of the program and how the code can be optimised.