Given, MATERIAL is coded as JXQBOFXI
The logic here is
M - 3 = J
A - 3 = X
T - 3 = Q
E - 3 = B
R - 3 = O
I - 3 = F
A - 3 = X
L - 3 = I
Similarly,
J - 3 = G
O - 3 = L
Y - 3 = V
$$\therefore\ $$JOY is coded as GLV in that code.
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