In the current year, Keyaki Construction Company exchanged a building, which cost $530,000 and had accumulated depreciation of $160,000, for a new building having a fair market value of $650,000. In connection with the exchange, Keyaki paid $280,000 in cash. What is the tax basis of the new building? Oa. $530,000 Ob. $370,000 Oc. $690,000 Od. $650,000 Oe. None of these choices are correct