Which of the Following Qualifies as a Like-Kind Exchange of Property

Multiple Choice

Which of the following qualifies as a like-kind exchange of property?
I.Commercial retail building and its land for an office building and its land.
II.Louisiana Oil, Inc. common stock for Louisiana Oil, Inc. corporate bonds.
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A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.