Correct answer: 4.08%
To find the fraction of metal M that exists as M3+, we can set up a balance of charges in the oxide formula M0.98O. Given that M is present as both M2+ and M3+, we can express the total amount of metal in terms of its oxidation states and solve for the fraction of M3+, leading to the conclusion that 4.08% of the metal is in the M3+ state.