A solid sphere with a mass of \( 0.8 \text{ kg} \) and a volume of \( 1.0 \times 10^{-3} \text{ m}^3 \) is held at rest while completely submerged in a large tank of oil. The oil has a density of \( 900 \text{ kg/m}^3 \). The sphere is then released. Which of the following correctly predicts and justifies the motion of the sphere immediately after it is released?