Final answer:
The IRAC story snippet is performing the 'Analysis' step, where historical evidence is examined to construct interpretations and answer historical inquiry questions.
Step-by-step explanation:
The IRAC process stands for Issue, Rule, Analysis, and Conclusion. The snippet provided is outlining a process of inquiry that involves developing historical questions, locating and analyzing sources, developing evidence, and constructing claims or historical interpretations. Based on the IRAC terms and the description of the steps, it aligns most closely with the Analysis step in the IRAC method. The 'analysis' in IRAC pertains to the examination and interpretation of the facts in light of the rules to develop an argument or explanation that supports a conclusion on the issue at hand, which is parallel to examining historical evidence to construct historical interpretations.