A source produces a light beam of intensity $I_0$ polarized along the $x$-direction. The beam is sent along the $z$-direction. It enters a polaroid $P 1$ with its polaroid axis aligned along the $y$-direction so that no light exits the polaroid. When another polaroid $P 2$ is placed in between the source and $P 1$, the intensity measured after $P 1$ is $3 I_0 / 16$. Which among the following is a possible value of $\theta$, the angle of the polaroid axis measured from the $x$-axis?