What is $Z$ in the following reaction sequence?

What is $Z$ in the following reaction sequence?

1. $\mathrm{C}_6 \mathrm{H}_5 \mathrm{CO}_2 \mathrm{H}$
2. $\mathrm{C}_6 \mathrm{H}_5 \mathrm{OH}$
3. $\mathrm{C}_6 \mathrm{H}_5 \mathrm{CHO}$
4. $\mathrm{C}_6 \mathrm{H}_6$

Asked in: AP EAMCET 2014

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