Explanation:

Let's break down the process to find the seventh to the right of the eighth from the left in step 2.

- Original Series: 7 M 4 $ G U * 5 % @ X 3 # S & 2 9 ? I 8 O 1 J © 6 V P ^

- Step 1: Arrange letters immediately preceded by a number in alphabetical order after the series.

- Letters preceded by numbers: M, O.

- Adding them after the series: 7 M 4 $ G U * 5 % @ X 3 # S & 2 9 ? I 8 O 1 J © 6 V P ^ M O

- Step 2: Arrange numbers immediately followed by another number and preceded by a symbol in descending order.

- Numbers to consider: 2.

- New series: 7 M 4 $ G U * 5 % @ X 3 # S & 2 9 ? I 8 O 1 J © 6 V P ^ M O 2

- Step 3: Interchange symbols preceded by letters with the elements that follow.

- No applicable swapping since symbols don't meet the criteria.

- Finding the Position: Seventh to the right of the eighth from the left in step 2.

- Eighth from the left: X

- Count seven more: 3 # S & 2 9 ? ? 9

- Correct Answer: Option 1, 9