The correct answer is B) Two paddles, a light, painter, lifeline and pendants. According to the small passenger vessel regulations, a life float must be equipped with the following items: two paddles, a light, a painter (a rope for towing or securing the float), a lifeline, and pendants (ropes or lines attached to the float). This comprehensive set of equipment ensures the life float is properly secured, visible, and has the necessary components for occupants to safely use the float in an emergency situation. The other answer choices are incorrect because they either omit essential pieces of required equipment (A and D) or include the wrong types of equipment (C).