Cobb, Danver, and Evans each owned a one$-$third interest in the capital and profits of their calendar$-$year partnership. On September $18$ of Year $1,$ Cobb and Danver sold their partnership interests to Frank and immediately withdrew from all participation in the partnership. On March $15$ of Year $2,$ Cobb and Danver received full payment from Frank for the sale of their partnership interests. For tax purposes, the partnership

Multiple Choice

Terminated on September $18$ of Year $1.$

Terminated on December $31$ of Year $1.$

Terminated on March $15$ of Year $2.$

Did not terminate.