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Default Time formula Needed

I need a formula that will calculate some time for me. Here is what I have.
I have a box where a user types in 8:00 AM meaning they start worked at 8:00
in the morning. They then type in 5:00 PM for when they end work. There
also is a cell that they input their amount of time at lunch, say 1 hour.

I need the formula to subtract 8 Am from 5 PM and then subtract the 1 hour
lunch. So I should get 8 hours.

Also, will the formula return 7.5 if the user had a half hour?
 
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