QUESTION 8 The Bemore is located in a qualified census tract (QCT) since its median income is below 60 percent of the area median. An appraiser has concluded that half of the acquisition price is land value and half is building value. Assuming that the project receives the maximum RTC calculated in Question 7, compute the total LIHTCs. (The acquisition of the existing building qualifies for the acquisition credit. The "4%" rate is 3.45.) (10 points) Acquisition Credit Construction Credit Total LIHTC Credits QUESTION 8 The Bemore is located in a qualified census tract (QCT) since its median income is below 60 percent of the area median. An appraiser has concluded that half of the acquisition price is land value and half is building value. Assuming that the project receives the maximum RTC calculated in Question 7, compute the total LIHTCs. (The acquisition of the existing building qualifies for the acquisition credit. The "4%" rate is 3.45.) (10 points) Acquisition Credit Construction Credit Total LIHTC Credits