Select the option that is related to the third term in the same way as the second term is related to the first term.

SUNDAY : RWKHVE :: ANNUAL : ?

ZPKYVR

1   2    3    4   5    6   7     8    9  10  11  12  13

 A   B   C    D   E    F   G    H    I    J    K    L   M

 ↓    ↓    ↓    ↓    ↓     ↓   ↓    ↓     ↓   ↓    ↓    ↓    ↓

 Z   Y    X   W   V    U   T    S    R   Q   P    O   N

26  25  24  23  22  21  20  19  18  17  16  15  14

**********************************************************

THE LOGIC FOLLOWED HERE IS :

SUNDAY : RWKHVE :: ANNUAL : ?

S → (-1) → R

U → (+2) → W

N → (-3) → K

D → (+4) → H

A → (-5) → V

Y → (+6) → E

Similarly,

A → (-1) → Z

N → (+2) → P

N → (-3) → K

U → (+4) → Y

A → (-5) → V

L → (+6) → R

Thus, ZPKYVR is correct.