In early 2010, O'Monica sold her personal residence to Jessica for $350,000. At the time of the sale, O'Monica's adjusted basis was $50,000. Within two months of the sale, O'Monica moved into a new residence she purchased for $500,000. What is O'Monica's basis in her new residence?
a. $50,000
b. $200,000
c. $450,000
d. $500,000