Indie Corporation Purchases a Building for Use in Its Business

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 total rehabilitation (historic) tax credit of

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