Item$3$

$0\mathrm{.}5$points

Time Remaining $46$ minutes $54$ seconds

$00$:$46$:$54$

Item$3$

Time Remaining $46$ minutes $54$ seconds

$00$:$46$:$54$

If Annie and Andy $($each a $30$ percent shareholder in a calendar$-$year S corporation$)$ file a revocation statement on February $10,2024,$ to terminate their S corporation's S election, what is the effective date of the S corporation termination $($assuming they do not specify one$)?$

Multiple Choice

January $1,2024$

February $10,2024$

January $1,2025$

February $10,2025$

None of the choices are correct.