The correct option is C PEP
The first CO2 acceptor in C4 cycle is phosphoenolpyruvate (PEP) which is a 3-carbon molecule. It is present in mesophyll cells of C4 plants. The enzyme that catalyses this CO2 fixation is PEP carboxylase or PEPcase. The mesophyll cells of C4 plants lack the enzyme RuBisCO. The 4-carbon oxaloacetic acid (OAA) is formed in the mesophyll cells. It is then converted to other 4-carbon compounds like malic acid or aspartic acid in the mesophyll cells itself, these are then transported to the bundle sheath cells. In the bundle sheath cells, these C4 acids are broken down to release CO2 and a 3-carbon molecule. The CO2 released in the bundle sheath cells enters the C3 pathway. The 3-carbon molecule is transported back to the mesophyll cells where it is converted to PEP again, thus completing the cycle.