A 10 m long horizontal wire extends from North East to South West. It is falling with a speed of 5.0 ms-1, at right angles to the horizontal component of the earth's magnetic field, of 0.3×10−4 Wb/m2. The value of the induced emf in wire is :
(1) 1.5×10−3 V
(2) 1.1×10−3 V
(3) 2.5×10−3 V
(4) 0.3×10−3 V