2. Philip wants to sell his rental beach home and purchase rental property in the mountains. H friend, Randy, tells him he can do a nonsimultaneous tax-free exchange as long as the fair marka value of mountain property is equal to or greater than the fair market value of the beach propert How long after selling his beach property does he have to identify and purchase the mountain property? a. The mountain property must be identified within 45 days of the closing of the beach property and must be closed within 180 days of the closing of the beach property b. The mountain property must be identified within 30 days of the closing of the beach, property and must be closed within 120 days of the closing of the beach property c. The mountain property must be identified within 60 days of the closing of the beach property and must be closed within 180 days of the closing of the beach property d. The mountain property must be identified within 90 days of the closing of the beach property and must be closed within 180 days of the closing of the beach property