Final answer:
Emily's rehabilitation expenditures tax credit for her work on a certified historic building would be 20% of the total expenditures, in her case, this would mean a tax credit of $33,200.
Step-by-step explanation:
To calculate Emily's rehabilitation expenditures tax credit for rehabilitating a certified historic building, we can refer to the federal tax incentives provided for such endeavors. Generally, the Rehabilitation Tax Credit is designed to encourage the preservation and rehabilitation of certified historic structures.
The tax credit typically amounts to 20% of the qualifying expenditures incurred for the rehabilitation of certified historic buildings. In this case, Emily spent $166,000 on the rehabilitation project. To calculate her tax credit, we apply the 20% rate to the total expenditures:
\[ \text{Tax Credit} = 20\% \times \text{Qualifying Expenditures} \]
\[ \text{Tax Credit} = 20\% \times $166,000 \]
\[ \text{Tax Credit} = $33,200 \]
Therefore, Emily's rehabilitation expenditures tax credit for rehabilitating the certified historic building would be $33,200. This credit provides a financial incentive for individuals like Emily to invest in the preservation and restoration of historically significant structures, contributing to the overall conservation of cultural heritage.