Refer to the exhibit. Which Codec is negotiated?

G.729 is a low-bandwidth codec often used over WAN links, but if G.711ulaw is offered and accepted, G.729 would not be negotiated.

iLBC is an internet Low Bit Rate Codec, less common in traditional enterprise Cisco UCM deployments unless specifically configured, and would not be chosen if G.711ulaw is available and preferred.

In a typical Cisco voice environment, G.711ulaw is often the preferred high-quality codec for on-net calls or when bandwidth is not constrained. The exhibit (implied) would display G.711ulaw as the agreed-upon codec after offer and answer exchanges between endpoints or gateways, indicating successful negotiation for this codec.

G.728 is a low bit-rate speech codec but is not as commonly used as G.711 or G.729 in general Cisco VoIP deployments.