Benedict is a shareholder in the S corporation Sherlock Enterprises, Inc. He contributed $400 of cash plus $1,100 worth of property that has an adjusted basis of $700. At the end of the year, his share of liabilities is $300 and his portion of the net loss for the year was $200. What is Benedicts basis at the end of the year?

a. $1,300

b. $2,300

c. $900

d. $1,700