Donna offered to pay Clark $100 a day to show her dog in an upcoming three-day competition. Clark accepted and showed the young male dog, winning best of breed during each day's competition. Donna paid Clark $300. What is the present status of their contractual arrangement?

The contract has been terminated by performance.

The termination of the competition frustrated the contract.

The payment of the settlement ended the contract.

The contract terminated by agreement of the parties.