R Corporation is a calendar year corporation owned by three individuals Adams, Baker and Chris. It was formed on December 1, 2019. If the three shareholders consent to an election to be taxed as an S corporation on January 28, 2020 what is the effective date of that election?

a) What would be the effective date of the election if the shareholders consented to the election on February 27, 2020? b) What would be the effective date of the election if the shareholders consented to the election on March 21, 2020?