On August 10, 2010, Black, Inc. acquired an office building as a result of a like-kind exchange. Black had given up a factory building that it had owned for 18 months as part of the like-kind exchange. Which of the statements below is correct?
a. The holding period of the office building does not include the holding period of the factory building.
b. The holding period of the factory building starts on August 11, 2010.
c. The holding period of the factory building starts on August 10, 2010.
d. The holding period of the office building includes the holding period of the factory building.
e. None of the above