Indie Corporation Purchases a Building for Use in Its Business

question 16

Multiple Choice

Indie Corporation purchases a building for use in its business at a cost of $100,000.The building was built in 1900 and is a certified historic structure.Indie spends $150,000 on qualifying renovations certified as consistent with the buildings character.Indie will earn a rehabilitation (historic) tax credit of

• A)$15,000.
• B)$30,000.
• C)$25,000.
• D)$50,000.

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