Ms. Green, an HR manager at the Movie Theater is trying to figure out the weekly take-home pay for each of her employees based on three variables: hours (for the number of hours the employee has worked during the pay period with a default value of 40), wage (for the hourly wage), and tax (for the income tax rate). In the space below, please define an R function named payday() with three arguments - hours, wage, and tax - to calculate an employee's take-home pay.

For example, for someone who has worked 37 hours at $15 per hour with a 10% income tax, your function should return the value of $499.50.