Paul Chaing accquires 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 380,000on rehabilitation expenditures. Write a letter to paul and a memo for the tax research files explaining the follwoing, for the two alternative expenditures a. the computation that detirmines the rehabilitation expenditures tax credit available b. the effect of the credit on paul's adjusted basis in the property c. the cash flow differences as a result of the tax consequences related to his expenditure choice