A 20 m long horizontal wire extends from North-East to South-West. It is falling down with a speed of 4 m/s horizontally. The horizontal components of the earth's magnetic field is $0.4 × 10^{-4} T$. Find the value of induced current in the wire if the resistance of wire is 2Ω is:

1.13 mA

The correct answer is Option (1) → 1.13 mA