Looking at how the two words are coded, we know the following: W is 8, I is 9, N is 4, D is 5, C is 1, O is 2, and L is 6. Since LION starts with L, the first number is 6. As a result, B & C are out. I was 9, so C is out. With that we have our answer. The word LION would be encoded as 6924, which is A.
