During 2020, Jack and LaTonya, a married couple, decided to sell their residence. The residence has a basis of $162,000 and has been owned and occupied by them for 11 years. The house was sold in May for $395,000 with brokers commissions and other selling expenses totaling $24,000. They purchased a new residence in June for $400,000. What is the adjusted basis of the new residence?

	a.	$0
	b.	$162,000
	c.	$191,000
	d.	$400,000