In January 2016, Iris Corporation purchased and placed in service a 1933 building that houses retail businesses. The cost was $300,000, of which $25,000 applied to the land. In modernizing the facility, Iris Corporation incurred $312,000 of renovation costs of the type that qualify for the rehabilitation credit. These improvements were placed in service in October 2017.

The MACRS straight-line depreciation for nonresidential real property assuming mid-month convention for year 2 for property placed into service in January is the 2.564%. The MACRS straight-line depreciation for nonresidential real property assuming mid-month convention for year 1 for property placed into service in October is the 0.535%. If required, round your answers to the nearest dollar.

a. Iris Corporation's rehabilitation tax credit for 2017 is $__________