To solve the equation EIGHT / FOUR = TWO, where each letter stands for a different digit, we can start by considering the possible values of the letters.
Since we are dividing a four-digit number by a four-digit number and obtaining a three-digit number, we know that E and F must be 9 and 1, respectively, as they are the leading digits in the division.
With this information, let's construct the division:
```
9 1
-------
T W O
```
Now, let's consider the possible values for T and W.
Since 91 divided by 4 is not a whole number, T must be greater than 2. Let's try T = 3:
```
9 1
-------
3 W O
```
For the division to yield a three-digit result, the number formed by the last two digits of the dividend (1W) must be divisible by 4. Therefore, W must be an even number. The only even digit left is 2.
```
9 1
-------
3 2 O
```
Now, let's find the value of O. Since 91 divided by 4 is 22 with a remainder of 3, O must be 3.
```
9 1
-------
3 2 3
```
Therefore, the solution to the equation EIGHT / FOUR = TWO, where each letter stands for a different digit, is:
```
9 1
-------
3 2 3
```
So, E = 9, I = 1, G = 3, H = 2, T = 9, W = 2, and O = 3.