The correct answer is $\boxed{\frac{{{\text{g}}\left( {{{\text{M}}_1} – {{\text{M}}_2}\sin \alpha } \right)}}{{{{\text{M}}_1} + {{\text{M}}_2}}}{\text{m/se}}{{\text{c}}^2}}$.
Let’s analyze each option to see why it is or is not correct.
Option A: This option is incorrect because it does not take into account the force of friction between the mass $M_2$ and the inclined plane. The force of friction will cause the mass $M_2$ to accelerate down the inclined plane at a rate less than $g$.
Option B: This option is incorrect because it does not take into account the tension in the string. The tension in the string will cause the mass $M_1$ to accelerate upwards at a rate less than $g$.
Option C: This option is correct because it takes into account both the force of friction and the tension in the string. The force of friction will cause the mass $M_2$ to accelerate down the inclined plane at a rate less than $g$, and the tension in the string will cause the mass $M_1$ to accelerate upwards at a rate less than $g$. The net acceleration of the system will be the difference between the acceleration of the mass $M_2$ and the acceleration of the mass $M_1$.
Option D: This option is incorrect because it does not take into account the force of friction. The force of friction will cause the mass $M_2$ to accelerate down the inclined plane at a rate less than $g$.