Landover Corporation is looking for a larger office building to house its expanding operations. It is considering two alternatives. The first is a newly constructed building at a cost of $$6$ million. It would require only minor modifications to meet Landover$$s needs, at an estimated cost of $$500,000.$ The second building was constructed in $1910$ and is a certified historic structure. It could be purchased for $$3$ million but would require an additional $$4$ million in renovations to be suitable for Landover.

Calculate Landover$$s allowable rehabilitation credit if it chooses to purchase and renovate the certified historic structure, and the after$-$tax purchase price of the building. Assume Landover would claim the credit ratably over years $0$ through $4.$ Landover uses a $4$ percent discount rate to calculate present value.