Step 1: Moment of inertia of a loop.
For a circular loop, the moment of inertia about the tangential axis is given by the formula:
\[
I = \frac{1}{2} m R^2
\]
where \( R \) is the radius of the loop. Since the wire has length \( L \), the radius \( R \) is:
\[
R = \frac{L}{2\pi}
\]
Step 2: Calculating the moment of inertia.
Substitute \( R = \frac{L}{2\pi} \) into the moment of inertia equation:
\[
I = \frac{1}{2} m \left( \frac{L}{2\pi} \right)^2 = \frac{3mL^3}{8\pi^2}
\]
Step 3: Conclusion.
Thus, the moment of inertia is \( \frac{3mL^3}{8\pi^2} \), corresponding to option (C).