Blaze decides he wants some artwork owned by Jules. Her approaches Jules, who tells him he can have it for $500,000. Blaze doesn't have that much money in the bank, so they enter into the following transaction for the painting. Blaze provides $100,000 in cash, assumes a $250,000 loan held by Jules, and gives Jules one of his paintings worth $150,000. What is Blaze's tax basis in the painting he received from Jules? Question 5 options: a) $500,000 b) $400,000 c) $350,000 d) $250,000