Derek inherited a summer beach house in the Hamptons from his mother. His mother originally purchased the beach house and land for $296,000. Theproperty was appraised at $90,000 for the land and $358,190 for the house as of the date of his mother's death. When Derek received the property, the value increased to $121,780 for the land and $327,210 for the house. Since Derek doesn't currently live in the Hamptons, he decided that it would be best to put the property to use as a rental. What is Derek's basis in the house that he can use to depreciate?