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OS X 10.4 Tiger, but only on PowerPC Mac computers. It is a Classic application so you will need to set up a classic environment for it to work. Frankly, I'd just use OS 9 in SheepShaver to run it instead at this point unless you already have a PowerPC Mac.
 
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Which version of Mac OS X/OS X is the latest version that can run Microsoft Office 98?
Pretty much what @retta283 said. Your version of Mac OS X is almost irrelevant so long as it's not Leopard (or newer, since newer releases are Intel only) due to Office 98 being a set of Classic (Mac OS 9 and earlier) applications. You just need a working Classic environment and/or Mac OS 9 installation.
 
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