$A$ square loop $ABCD$ is moving with constant velocity $\vec{v}$ in a uniform magnetic field $\vec{B}$ which is perpendicular to the plane of paper and directed outward. The resistance of the coil is $R$. What is the rate of production of heat energy in the loop? [$L$ = length of side of the loop]

• A
  $\frac{B^2 L^2 V}{R}$
• B
  $\frac{B^2 L^2 V^2}{R}$
• C
  $\frac{B^2 LV^2}{R}$
• D
  $\frac{BLV^2}{R}$