Help with text files?

-Hey, guys so I have a problem that I am trying to figure out and it goes something like this....

The car company you work for has three models of vehicles; a truck (Haullr), a sports coupe (Quikk) and a compact car (Meep). One of the company goals is to make the vehicles you sell more fuel efficient.

You are given a text file; "fuel_economy_in.txt" with the following format:

Haullr 15.5 10%
Quikk 24.5 5%
Meep 32.3 4%

Each line consists of the model name, its present fuel economy, and the expected increase in fuel economy.

Write a program that reads data from the text file, and outputs a new text file (fuel_economy_out.txt) that reflects the NEW fuel economy based upon the expected increase, formatted to two decimal places.The output should look something like this:

Haullr 17.05
Quikk 25.73
Meep: 33.59

-I am very confused about how to go about this. If you guys can give me some assistance that would be great.
Mind showing us what you've done so far so we can see where your mistakes are and point you in the right direction?

Giving us your homework and asking us to do it will likely not yield any positive results.
Maybe we could start with some skeleton:

open file a for read
open file b for write
while (read line from file a)
{
extract model, fuel economy and expected increase from the line
compute new fuel economy
write model, new fuel economy to file b
}
close file a
close file b
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