Tristan transfers property with a tax basis of $990 and a fair market value of $1,520 to a corporation in exchange for stock with a fair market value of $990 and $355 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $175 on the property transferred. What is the corporation's tax basis in the property received in the exchange? Multiple Choice $1,520 $1,345 $1,165 $990