In the current year, Paul Chaing (4522 Fargo Street, Geneva, IL 60134) acquires a qualifying historic structure for $350,000 (excluding the cost of the land) and plans to substantially rehabilitate the structure. He is planning to spend either $320,000 or $380,000 on rehabilitation expenditures. Write a letter to Paul and a memo for the tax files explaining, for the two alterna-tive expenditures, (1) the computation that determines the rehabilitation expendi-tures tax credit available to Paul, (2) the impact of the credit on Pauls adjusted basis in the property, and (3) the cash-flow differences as a result of the tax consequences related to his expenditure choice