Camille Transfers Property with a Tax Basis of $1,050 and a Fair

Multiple Choice

Camille transfers property with a tax basis of $1,050 and a fair market value of $1,475 to a corporation in exchange for stock with a fair market value of $1,140 and $335 incash in a transaction that qualifies for deferral under section 351. Camille also incurred selling expenses of $106. What is the amount realized by Camille in the exchange?

A) $1,475
B) $1,369
C) $1,140
D) $1,034