The following sentence contains a transitional word or phrase:


Thus I must decline your insulting offer and demand an immediate apology.


Which revision correctly punctuates the sentence?



Thus; I must decline your insulting offer and demand an immediate apology.



Thus I must decline your insulting offer and demand, an immediate apology.



Thus, I must decline, your insulting offer and demand an immediate apology.



Thus, I must decline your insulting offer and demand an immediate apology.