Consider the following reaction mechanism.

\[\begin{array}{*{20}{l}} {{\text{Step 1}}}&{{{\text{H}}_2}{{\text{O}}_2} + {{\text{I}}^ - } \to {{\text{H}}_2}{\text{O}} + {\text{I}}{{\text{O}}^ - }}&{{\text{slow}}} \\ {{\text{Step 2}}}&{{{\text{H}}_2}{{\text{O}}_2} + {\text{I}}{{\text{O}}^ - } \to {{\text{H}}_2}{\text{O}} + {{\text{O}}_2} + {{\text{I}}^ - }}&{{\text{fast}}} \end{array}\]

Which statement correctly identifies the rate-determining step and the explanation?

A.     Step 2 because it is the faster step

B.     Step 1 because it is the slower step

C.     Step 1 because it is the first step

D.     Step 2 because it is the last step

B