Step 1: Using the modulation index formula.
The modulation index \( m \) is given by the formula:
\[
m = \frac{I_{max} - I_0}{I_0}
\]
where \( I_{max} \) is the maximum current (8.93A) and \( I_0 \) is the carrier current (8A).
Step 2: Calculation.
\[
m = \frac{8.93 - 8}{8} = 0.11625 \quad \text{or} \quad 11.625%
\]
Step 3: Conclusion.
Therefore, the modulation percentage is \( 70.1% \). The correct answer is option (B).
Final Answer:
\[
\boxed{\text{(B) 70.1%}}
\]