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Juselo purchased his primary residence for $280,000. As part of the closing procedure, he paid...

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Accounting

Juselo purchased his primary residence for $280,000. As part of the closing procedure, he paid $2,900 in loan origination fees, $750 to a lawyer to review the purchase contract and other closing papers, $250 for a property survey, and $1,200 for title insurance. He also gave the real estate agent a $100 gift certificate in appreciation for her hard work. What is Joselo's basis in the residence?
A) $280,000
B) $281,200
C) $282,200
D) $285,100

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