Step 1: Use the current gain relation.
For a BJT,
\[
\beta=\frac{I_C}{I_B}.
\]
Hence,
\[
I_C=\beta I_B.
\]
Given,
\[
\beta=100,
\]
\[
I_B=40\,\mu\mathrm{A}.
\]
Step 2: Calculate the collector current.
\[
I_C
=
100\times40\,\mu\mathrm{A}
=
4000\,\mu\mathrm{A}
=
4\,\mathrm{mA}.
\]
Hence,
\[
\boxed{4\,\mathrm{mA}}
\]
Therefore,
\[
\boxed{(B)}
\]
is the correct answer.