Concept:
Carbon monoxide is a poisonous gas. Its estimation is based on its reducing nature.
Iodine pentoxide (\(I_2O_5\)) acts as a strong oxidizing agent and quantitatively oxidizes carbon monoxide into carbon dioxide.
The amount of iodine liberated is proportional to the amount of carbon monoxide present.
Step 1: Write the reaction
\[
I_2O_5 + 5CO
\rightarrow
I_2 + 5CO_2
\]
In this reaction:
• Carbon monoxide is oxidized to carbon dioxide.
• Iodine pentoxide is reduced to iodine.
Step 2: Understand why it is used
The reaction proceeds quantitatively.
Since a fixed amount of iodine is liberated for a given amount of carbon monoxide, the concentration of CO can be determined accurately.
Step 3: Eliminate other options
\[
Cl_2O_7,\ BrO_3,\ I_2O_7
\]
are not used for this analytical estimation.
The standard reagent is:
\[
\boxed{I_2O_5}
\]
Hence the correct answer is
\[
\boxed{\text{(D)}}
\]