A owns a ranch in Wyoming, which B offers to purchase. A is not willing to sell the ranch but is willing to exchange the ranch for an apartment complex in Louisiana. The complex is available for sale. B purchases the apartment complex in Louisiana from C and transfers it to A in exchange for A's ranch. The ranch and the complex each have a $1,000,000 fair market value. Which of the following is true?

A) The transaction qualifies as a like-kind exchange for B but not for A.

B) The transaction qualifies as a like-kind exchange for both B and A.

C) The transaction qualifies as a like-kind exchange for A but not for B.

D) The transaction does not qualify as a like-kind exchange for either B or A.