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 title insurance. He also gave the real estate agent a $75 gift basket in appreciation for his hard work Tyron's basis in the residence is 2b0000 O $260,950 o $261,700 O $264,000 O $264,075 S o 80 0 Wot, 000 Mark for follow up elicla, a single taxpayer, purchased a famous painting for $69,000. Several years later, she sold it for marginal tax rate is 33%. Telicia's gain on the sale of the painting will be taxed at a rate of O 28%