Step 1: Analyze the reaction.
Trifluoroacetic anhydride (TFAA) is a powerful reagent used in esterification reactions, where it typically reacts with alcohols to form esters. The compound is reacted with hydrogen peroxide (H$_2$O$_2$), which can oxidize the alcohol group in the presence of TFAA. The reaction results in the formation of an ester.
Step 2: Understanding the product formation.
In this case, the reaction results in the formation of an ester group (-O) replacing the -OH group. The methyl groups (Me) remain unchanged. The major product is the one shown in option (B), where the product contains an ester functionality.
Step 3: Conclusion.
Thus, the correct major product is (B).