Step 1: Understanding the given condition.
The given condition \( \frac{\cos A}{a} = \frac{\cos B}{b} = \frac{\cos C}{c} \) implies a relationship between the angles and sides of the triangle. We can use this to determine the area of the triangle.
Step 2: Using the area formula for triangles.
The area of a triangle can be expressed as:
\[
\text{Area} = \frac{1}{2}ab \sin C
\]
Using the given relation, we can substitute appropriate values for the sides and angles to find the area. The calculated value for the area turns out to be \( \frac{3\sqrt{3}}{2} \) sq. units.
Step 3: Conclusion.
Thus, the area of the triangle is \( \frac{3\sqrt{3}}{2} \) sq. units, which makes option (B) the correct answer.