Sara transfers property with a tax basis of $1.000 and a fair market value of $1.200 to a corporation in exchange for stock with a fair market value of $1,100 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $100 on the property transferred. What is Sara's tax basis in the stock received in the exchange? $1.000 $1,100 $1,200 O $900