Lavinia owns an advertising agency. In February 2018, Lavinia purchases a building for $125,000. Lavinia spends $275,000 rehabilitating the building for use as her advertising agency office. The rehabilitation is completed in November 2018.

a. To qualify for the historic structures credit, the depreciable building including residential real estate property must be certified by the Department of Treasury and must be located in a registered historic district or listed on the National Register of Historic Places.

b. Assume Lavinia meets the qualification criteria. Also assume that the building qualifies for the credits. The total tax credits for 2018 is $______ and the basis of the building is $________.