Answer and explanation

Correct answer: C. will have left

  1. Step 1: 'By the time' + present simple takes the future perfect in the main clause for an action completed beforehand.
Answer
will have left.
Why not the others: "leaves" is wrong because the present simple does not express completion before a future time. "has left" is wrong because the present perfect does not fit 'by the time we reach'. "left" is wrong because the simple past cannot refer to a future time.

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