A piece of paper is folded and punched as shown below in the question figures. From the given option figures, indicate how it will appear when opened.

The sequence of folding a piece of paper and the manner in which the folded paper has been cut is shown below. Select a figure from among the given options, which would most closely resemble the unfolded form of the paper.

The sequence of folding a piece of paper and the manner in which the folded paper has been cut is shown in the given figures. How would this paper look when unfolded?

The sequence of folding a piece of paper and the manner in which the folded paper has been cut is shown below. Select the option figure that would most closely resemble the unfolded form of the paper.