Step 1: Understanding horse evolution.
The evolution of horses shows a gradual increase in body size, reduction in toes, and development of high-crowned teeth suited for grazing.
Step 2: Sequence.
- Hyracotherium (Eohippus): Earliest horse (Eocene).
- Mesohippus: Oligocene — three-toed form.
- Merychippus: Miocene — development of grazing teeth.
- Equus: Pleistocene to Recent — modern single-toed horse.
Step 3: Conclusion.
Hence, the correct chronological order is Hyracotherium → Mesohippus → Merychippus → Equus.