Electrodynamics — CSIR Net PYQ (Question 14)

A conducting wire in the shape of a circle lies on the $(x,y)$ -plane with its centre at the origin. A bar magnet moves with a constant velocity towards the wire along the $z$ -axis (as shown in the figure below).
We take $t=0$ to be the instant at which the midpoint of the magnet is at the centre of the wire loop and the induced current to be positive when it is counter-clockwise as viewed by the observer facing the loop and the incoming magnet. In these conventions, the best schematic representation of the induced current $I(t)$ as a function of $t$, is