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Answer:
it is eight o'clock now
Explanation:
By saying "now", you know we are in the present tense. Without now, maybe the sentence might be meaning it was eight o'clock.
The verb of 'be' has multiple forms: be, am, is, are, was, were, being, been
the term used depends on when this action took place and who did it,
"It" is singular, so it is not were (indicating multiple)
"It" is also not talking about yourself, so it is not am (indicating a first-person perspective)
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As a native English speaker, it is hard for me to explain more in detail. I recommend reading about the differences between the forms, and I'll be putting the url for an article I like below :
https://grammar.collinsdictionary.com/us/easy-learning/how-do-you-use-the-verb-be-in-english#:~:text=It%20has%20eight%20different%20forms,I%20am%20late.
(I can't put it as a link because it won't be accepted by Brainly)