Explanation:

- To solve, let's break down the code for 'PERMIT' ? 'GRNIVK'.

- Let's match each letter:

- P ? G

- E ? R

- R ? N

- M ? I

- I ? V

- T ? K

- The pattern is the reverse of the alphabet position difference.

- For each letter, find its opposite position from the end of the alphabet. E.g.: A?Z, B?Y, C?X, etc.

- Convert 'CONDUCE' letter by letter:

- C ? X

- O ? L

- N ? M

- D ? W

- U ? F

- C ? X

- E ? V

- So, the code should be 'XLMWFXV'.

- Let's check options:

1. XLMWFXV

2. VXFWMLX

3. VFXMWXL

4. VXFMWLX

Correct Answer: Option 1: XLMWFXV