Jolie purchased her residence in 2012 for $500,000 by borrowing $450,000. In 2018, she becomes unemployed and can no longer afford to make the full monthly payment on the mortgage. When the mortgage balance is $430,000, the bank agrees to reduce her mortgage to avoid foreclosure. Jolie is insolvent before and after the mortgage reduction. What is Jolie's basis in her residence if the bank agrees to reduce the mortgage on the residence to $300,000