For the Following Reaction Involving the Smelting of Iron Ore $\rightarrow$

For the following reaction involving the smelting of iron ore, the carbon dioxide in the product __________ .
2 Fe₂O_3(s) + 3 C_(s) $\rightarrow$ 4 Fe_(l) + 3 CO_{2 (g)}

A) was formed by oxidation of carbon
B) was formed by reduction of carbon
C) is acting as an oxidant
D) is acting as a reductant
E) None of the above.