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The question sets up a set of conditional rules for the order of swimmers finishing a race. V must always finish ahead of P, and P must always finish ahead of Q. This means V cannot finish beyond fifth place, as there must be at least two places for P and Q beyond V`s placement.
Let`s scrutinize each option:
1. S finishes first: This statement doesn`t contradict any previous conditions and therefore it is possible. Suppose if S comes first then U or Q can come last which satisfies the condition. Hence this statement is true.
2. R finishes second: This statement doesn`t align with the given conditions as either R has to finish first or S finishes first.
3. T finishes third: The conditions specify that if R finishes first, then T finishes last. So, T cannot finish third.
4. R finishes fourth: As already discussed in the explanation of the second and third options, it`s either first or not for R according to the conditions provided.
Therefore, the answer is option 1, "S finishes first".