Neither boat will be penalized. Red hails for room to tack and Blue correctly answers in accordance with rule 20.2(c). Red tacks immediately as required by rule 20.2(d) and Blue gives Red room to do so. After that, it is up to both boats to avoid a collision: rule 20.2(c) requires Blue to give Red room for a safe tack not for the ideal tactically desirable tack (see also Case 35) and therefore no rule has been broken.