Choose the correct option for the following Assertion (A) and Reason (R).

Assertion

If a dense iron piece is embedded in floating ice and the iron sinks after the ice melts, the final water level is lower than the initial water level.

Reason

While the composite is floating, the iron contributes to displacement equal to m(iron)/ρ(water), whereas after sinking it displaces only its own volume m(iron)/ρ(iron).