Please answer using EXCEL ONLY!!! Other answers will not be accepted. I will upvote a correct answer

8. What is the relative tax advantage of corporate debt if the corporate tax rate is Tc = 0.21, the personal tax rate is Tp = 0.22, but all equity income is received as capital gains and escapes tax entirely (TpE = 0)? How does the relative tax advantage change if the company decides to pay out all equity income as cash dividends that are taxed at 20%? 8. What is the relative tax advantage of corporate debt if the corporate tax rate is Tc = 0.21, the personal tax rate is Tp = 0.22, but all equity income is received as capital gains and escapes tax entirely (TpE = 0)? How does the relative tax advantage change if the company decides to pay out all equity income as cash dividends that are taxed at 20%