Determine if each of the following transactions qualifies as a nontaxable exchange:

a) Firm A exchanges a 2 percent interest in MG Partnership for a 10 percent interest in KLS Partnership.

b) Mr. Basu exchanges investment land for common stock in RV, Inc. Immediately after the exchange, Mr. Basu owns 42 percent of RVs outstanding stock.

c) Corporation C exchanges business equipment for a 25 percent interest in a residential apartment complex.

d) Company D exchanges 15,000 units of inventory for a new computer system.