Steven sent a letter on November 23 to Michael offering to sell his 1968 Porsche for $85,000, and he stated the offer was open for acceptance only until December 21 at 5p.m. Michael received the letter on December 1 and prepared a letter of acceptance on that day but had not mailed it. On December 2, Steven called Michael and said that he has changed his mind and was withdrawing his offer. There was a contract as soon as Michael wrote the letter of acceptance and the revocation is too late. Since the revocation was made by telephone and the offer was made by letter, the revocation is not effective The revocation was effective because it was communicated to Michael before the acceptance was mailed The revocation was effective because it was communicated to Michael before the acceptance was recelved by Steven. None of the options are correct