If Annie and Andy $($each a $30\%$ shareholder in an calendar year S corporation$)$ file a revocation statement on March $20,2017$ to terminate their S corporation's S election, what is the effective date of the S corporation termination $($assuming they do not specify one$)?$

A$)$ January $1,2017.$

B$)$ March $18,2017.$

C$)$ January $1,2018.$

D$)$ March $16,2018.$

E$)$ None of the choices are correct.