The dashed frame shows a road sign exactly as it looks reflected in a still lake. Which panel shows the sign as it really is?

Reflecting the water image once more in the water gives back the real sign, so turn the picture top-to-bottom while keeping left and right: the word MANALI is upright and reads left to right: (c). (a) copies the reflection, (b) also swaps the sides and (d) is the reflection read from the other end.