Q: Tyron purchased his primary residence for $260,000. As part of the closing procedure , he paid $2,300 in a loan origination fee , $750 to a lawyer to review the purchase contract and other closing papers, $150 for a property survey, and $800 for a title insurance. He also gave the real estate agent a $750 gift basket in appreciation for his hard work. Tyron's basis in the residence is

A. $264,075 B. $264,000 C. $261,700 D. $260,950