Hubble's Law tells us that the velocity at which a galaxy is receding from us is proportional to its distance from us. In other words, the farther away a galaxy is, the faster it appears to be moving away. Hence:
You can calculate the velocity of a galaxy as it travels away from us, and, with some additional calculations, infer its distance.
Therefore, the most accurate choice from your options may be interpreted as:
You can calculate the distance to any galaxy in the Universe simply by measuring its velocity.
Note that this is more of an inference since the law allows for determining distances given the velocity of a galaxy—akin to what Hubble's Law provides.