2d. Terminal Velocity

This question caused quite an avid discussion amongst Physics Educators recently. So I dug out the TYS and found the question and model answer. 

I simulated the same event using a ball and a cylinder half filled with water and took the following video: 

Using the video motion analysis, the velocity-time graph below is obtained:

If we are able to follow on a tracker file, then we can determine whether B or C is the answer.