Induced EMF and Current in a Shrinking Loop.

A circular loop of flexible iron wire has an initial circumference of 163cm, but its circumference is shrinking at a constant rate of 11.0 cm/s due to tangential pull on the wire. The loop is in a constant uniform magnetic field of magnitude 1.00T, which is oriented perpendicular to the plane of the loop. Assume that you are facing the loop and the magnetic field points into the loop.

Find the magnitude of the emf, E, induced in the loop after exactly time 7.00s has passed since the circumference of the loop started to decrease, to three significant figures. And what is the direction of the induced current in the loop as viewed looking along the direction of the magnetic field.

E = ______________________________________ v

The Direction is:
_____Clockwise
_____Counterclockwise