Mr. Bond who owns Spectre Road Construction Co. and runs it as a proprietorship, had a before-tax income last year of $140,000. His personal and family expenses are $50,000 and he has $10,000 in exemptions and deductions. If he paid himself a salary of $60,000 taxed at 22%, would it be advantageous for him to incorporate as a C-corporation (i.e., not a Chapter S Election), in terms of taxes paid. Explain your calculations. (Note: Consider Corporate Tax Rate = 35%)