Answer
$I_z=R^2M$
Work Step by Step
We can find the moment of inertia of the ring about the z-axis as follows:
$I_z=\int y^2 dm$
$\implies I_z=\int R^2 dm$
$\implies I_z=R^2\int dm$
As the total mass of the ring is M, therefore $M=\int dm$
$\implies I_z=R^2M$