Correct Answer: She said, "I will not be coming to the school today.".

Solution : The correct choice is the fourth option.

Direct speech reports the message of the speaker in the exact words as spoken by him.

The steps of conversion are as follows:

• The reporting verb "said" remains unchanged.
• The modal "would" is changed to its present form "will".
• The third-person pronoun "she" is changed to the first-person pronoun "I".
• The time expression "that day" is changed to "today".
• The words of the speaker are enclosed in the inverted commas.

Therefore, the correct direct form of the given sentence is: She said, "I will not be coming to the school today."