Explanation:

Oxidation state: The oxidation state of an element in a compound is the charge that it would have if all the bonding electrons were assigned to the more electronegative atom.

The maximum number of oxidation states exhibited by a transition metal depends on the number of valence electrons it has available for bonding. The valence electrons of a transition metal are the electrons in the outermost shell and the electrons in the (n-1)th shell.

Chromium (Z = 24):
Chromium has a configuration of [Ar] 3d⁵ 4s¹. It can lose all of its valence electrons to form an oxidation state of +6 or gain electrons to form an oxidation state of -2. However, the most common oxidation states of chromium are +2, +3, +6, and +7.

Manganese (Z = 25):
Manganese has a configuration of [Ar] 3d⁵ 4s². It can lose all of its valence electrons to form an oxidation state of +7 or gain electrons to form an oxidation state of -3. However, the most common oxidation states of manganese are +2, +4, +7, and +3. Manganese can exhibit higher oxidation states than chromium because it has one more valence electron available for bonding.

Iron (Z = 26):
Iron has a configuration of [Ar] 3d⁶ 4s². It can lose all of its valence electrons to form an oxidation state of +6 or gain electrons to form an oxidation state of -2. However, the most common oxidation states of iron are +2 and +3.

Titanium (Z = 22):
Titanium has a configuration of [Ar] 3d² 4s². It can lose all of its valence electrons to form an oxidation state of +4 or gain electrons to form an oxidation state of -2. However, the most common oxidation states of titanium are +2, +3, and +4.

Based on the configurations and the maximum oxidation states exhibited by each transition metal, the correct answer is option 'B': Manganese (Z = 25), which can exhibit oxidation states of +2, +4, +7, and +3.