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A purchased a historic building in downtown Little City for a cost of $50,000. A spends $70,000 rehabbing the building so that he may use

A purchased a historic building in downtown Little City for a cost of $50,000. A spends $70,000 rehabbing the building so that he may use it for his business. What is A's basis in the rehabilitated structure, assuming he met all qualifications for the credit?

$113,000

$120,000

$70,000

$57,000

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