Jose, a married taxpayer, has successfully built his property development company and he is interested in further expanding his real estate portfolio. As a result of a thorough investigation into new block of properties, Mason settled and acquired a nonresidential building on September 19, 2020, for $1,000,000. The was building was subsequently sold on June 21, 2021 for $1,200,000. What was the adjusted basis of the building at the time of the sale? Round your answer to the nearest dollar.

Group of answer choices

$1,000,000

$992,510

$980,758

$988,248