Correct Answer: $\frac{20}{29}$

Solution : Given: 5 ÷ [5 + 8 – {4 + (4 of 2 ÷ 4) – (2 ÷ 4 of 2)}]
= $5 ÷ [5+8-\{{4+((4 \times 2) ÷ 4)-(2 ÷ (4 \times 2))}\}]$
= $5 ÷ [5+8-\{{4+(8 ÷ 4)-(2 ÷ 8)}\}]$
= $5 ÷ [5+8-\{{4+\frac{8}{4}-\frac{2}{8}}\}]$
= $5 ÷ [5+8-\{{4+2-\frac{1}{4}}\}] $
= $5 ÷ [5+8-\{{6-\frac{1}{4}}\}]$
= $5 ÷ [13-\frac{23}{4}]$
= $5 ÷\frac{29}{4}$
= $5\times\frac{4}{29}$
​​​​​​​= $\frac{20}{29}$
Hence, the correct answer is $\frac{20}{29}$.