Step 1: The first blank refers to a situation in the present: "It ______________ not look like a great deal today." This requires the use of the present modal "may," because the sentence is about how the event seems in the present. So, "It may not look like a great deal today" is correct.
Step 2: The second blank refers to a situation in the past: "no man before __________ to import tea directly into Ireland." The appropriate tense here is the past perfect "had dared," because it indicates that before this particular event, no one had previously attempted it. Thus, "no man before had dared" is correct.
Step 3: Putting both together: "It may not look like a great deal today, but back then it was a coup: no man before had dared to import tea directly into Ireland."
Therefore, the correct option is (B) may, had dared.