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Harriet purchased an office building that is a certified historic structure. Harriet paid $100,000 for the building, and over the next 15 months, she spent

  1. Harriet purchased an office building that is a certified historic structure. Harriet paid $100,000 for the building, and over the next 15 months, she spent an additional $150,000 to rehabilitate it.
    1. Compute Harriets rehabilitation credit.

  1. Compute Harriets basis in the building for depreciation purposes if she elects to take the rehabilitation credit.

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