Which of the following statements is correct regarding the like-kind exchange standards? Select one: a. Property must be held for investment in order for property to qualify as like-kind property. b. Property must be held for use in a trade or business or for investment in order for such property to qualify as like-kind property. z. One of the requirements under IRC 1031 is that property must be held for investment or for use in a trade or business in order for such property to qualify for gain or loss deferral under IRC 1031. d. All of the above. e. None of the above