The Jennings Group reacquired 3 million of its shares at $56 per share as treasury stock. Last year, for the first time, Jennings sold 1 million treasury shares at $57 per share. If Jennings now sells the remaining 2 million treasury shares at $53 per share, by what amount will retained earnings decline? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)

3,000,000 - (57-56)*1= 2,999,999 - incorrect answer

3,000,000 (1*1,000,000)

3,000,000- 1,000,000 = 2,000,000 = 2 million - incorrect answer