Which of the following exchanges qualifies for nonrecognition treatment as a 1031 like-kind exchange?

a. Airplane used in a business for 1,000 shares of Blue, Inc., stock.

b. Computer used in a business for wooden filing cabinets used in a business.

c. Female cow for a male cow.

d. Land in Spain for land in Florida.

e. None of the above.

is the correct answer e? I am also thinking option c but I would view cows as inventory and my understanding inventory is not like-kind.