How do I solve this equation? Charleston Corporation $($CC$)$ now operates as a $$regular$$corporation$,$ but it is considering a switch to S Corporation status. CCis owned by $100$ stockholders who each hold $1\%$ of the stock, andeach faces a personal tax rate of $35\%.$ The firm earns $$2,000,000$ per year before taxes, and since it has noneed for retained earnings, it pays out all of its earnings asdividends.$$ Assume that the corporate tax rate is $34\%$ and the personal tax rateis $35\%.$ How much more $($or less$)$ spendable income would each stockholder have $if$ the firm elected $S$ Corporation status?