Carrot, Inc., Onion, Inc., and Penny formed a general partnership. Carrot, Inc. owns a 50% interest and Onion, Inc. and Penny each own 25% interests. Carrot, Inc. files its tax return on a September 30 year-end; Onion, Inc., files with a March 31 year-end, and Penny is a calendar year taxpayer. Which of the following statements is true regarding the taxable year the partnership can choose?

A) The partnership must choose the calendar year because it has no majority or principal partners.

B) The partnership must use the least aggregate deferral method to determine its taxable year.

C) The partnership must choose a September 30 year-end because Carrot, Inc., is the partner with the largest ownership percentage.

D) The partnership may choose any taxable year because it has less than five partners.