F, M, and T are shareholders of a calendar year corporation. On February 15, 2021, they are advised they should elect Subchapter S status. All agree to the election. However, they state that they purchased a 10% ownership interest from V on January 4, 2021. V sold his interest because he said he never wanted to have any contact with F, M, or T again.

a. Can the corporation make an S selection for 2021? Explain.

b. If the corporation files its election on or before March 15, 2021, but V does not consent, will this election be effective in any year?