Question $18(1$ point$)$

In $2018,$ you are considering purchasing a property for $$3,000,000$ which was certified "Historic" by the National Parks Service. The plan is to renovate the building and take the maximum tax credit allowed under the $2018$ tax code. Assume a discount rate equal to the $5-$year treasury $(4\%).$ Under the new changes in the tax code, what would the tax credit be worth in present value dollars?

$$600,000$

$$534,219$

$$524,231$

$$489,547$

$$640,000$

$$563,000$

$$589,000$

Hide hint for Question $18$

What was the change in $2018$ the impacts the value of the historic tax credit?