The correct answer is B) Security, Security, Security. This is the correct answer because the situation described in the question involves a loss of navigation lights, which is considered a security situation rather than a distress situation. The "Security" call on the VHF radio is used to communicate important safety information that may not necessarily involve an immediate threat to life or property. In this case, the loss of navigation lights poses a potential hazard to other vessels in the area, so a "Security" call is the appropriate emergency signal to transmit. The other answer choices are incorrect because they do not match the nature of the situation. "Mayday" is used for grave and imminent danger, "Pan Pan" is used for urgent situations that do not involve immediate danger, and "Lights out" is not a recognized emergency signal.