Greg and Julie own a rental house with a basis of $$245,250.$ They received a landscaping quote for a new retaining wall for $$6,500.$ They decided to do the work themselves and purchased the materials for $$2,200.$

As they were wrapping up the project, Greg had to travel out of town for his full$-$time job as a hospitalist, so they paid Monroe, their renter, $$250$ to help Julie finish the work.

What is Greg and Julie's adjusted basis after the work is complete?

$$247,450$

$$247,700$

$$253,950$

$$254,200$