Anne bought a condo in Colorado for her personal use in 2015. She paid $250,000, of which none of the cost was allocated to land. In 2018, she replaced the furnace and air conditioning system for a total cost of $10,000. In 2019, she converted the property to a rental property. At the time of the conversion, the fair market value of the property was $300,000. What is the basis for depreciation of the condo?

$250,000

$260,000

$300,000

$310,000