The correct answer is "Rachel likes to start her day with a cold glass of lemonade".
Explanation:
The sentence "Rachel likes to start her day with<u> a cold glass of lemonade</u>" uses a misplaced modifier by putting the adjective "cold" before the noun "glass" instead of the noun "lemonade". The sentence as it is written implies that the glass is the object that is cold, not the lemonade. The correct way to write the sentence is "Rachel likes to start her day with <u>a glass of cold lemonade</u>".