please answer all questions posted #12-13 thanks

Question 12 (1 point) Which reasons support the acquisition of a historic property as a possible investment opportunity? (MARK ALL THOSE THAT APPLY) if the property qualifies, there is a tax credit for rehabilitation of 20% over 5 years. There may be state grants, credits and tax abatements that would offset the expense of renovation Complying with the guidelines and regulations for making improvements to a historic property can be done by most licensed contractors. Renovation costs should compare closely with those of newer buildings. If the property is an apartment building there is also an opportunity to qualify for the low-income housing credit Historic properties need not comply with current building code requirements, so the expense associated with renovating the property will be modest Question 13 (1 point) On page 3 of the prospectus for a project by Walion (see the section on Syndication under Lesson 6) it states: The Partnership's investment objectives are to: (a) preserve Limited Partners capital and (b) provide annual cash distributions to Limited Partners beginning in 2011 until the completion of the Project, which is anticipated to be in December of 2015, representing a Net IRR of 13.5% based on the 510.00 purchase price of the Units under this Offering IRR seeks to establish the present value of anticipated cash distributions by using a discounted cash flow. The distributions for purposes of calculating the Net IRR herein is based on the revenues, costs and timing described under "The Property. Ares and Investment Plan - Big Lake Investment Plan" Which statements are true about this offering (Refer to the document "Walton Big Lake Development") Mark all that apply There is the potential for the discovery of archaeological sites on the property, which may require the partnership to preserve the site at its expense and refrain trom developing all or a portion of the Property The general partners have pledged personal assets to cover any losses generated during the life of this partnership As losses are insured Achieving an IRR of 13.5% is almost guaranteed The state of sub-me market in the US and Canada could impact the success of this project by impacting future residential property price The IRR of 135% is guaranteed