I have to say the second one. "It" is singular, so you have to use "is". "Are" is only used when the subject is plural or second person.
I'm not sure why you wrote "is" instead of "I". Was that a typo, or did you think it might've been correct?
April 26, 2015
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this is a time of the day, not a person
April 26, 2015
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