The area enclosed by the wire is
[tex]A=8.00 cm^2 = 8.00 \cdot 10^{-4} m^2[/tex]
By using Faraday-Neumann-Lenz law, we can find the emf induced in the circuit, whose magnitude is equal to the variation of magnetic flux on the wire:
[tex]\epsilon = \frac{\Delta \Phi}{\Delta t}= \frac{\Delta B A}{\Delta t}= \frac{(2.2 T-0.5 T)(8 \cdot 10^{-4} m^2)}{1.08 s}=1.26 \cdot 10^{-3} V [/tex]
And then, by using Ohm's law, we can find the induced current:
[tex]I= \frac{\epsilon}{R}= \frac{1.26 \cdot 10^{-3} V}{2.60 \Omega}=4.86 \cdot 10^{-4}A [/tex]