The MAX function first extracts the maximum value from the range C3:C11. In this case, that value is 849900.
This number is then supplied to the MATCH function as the lookup value. The lookup_array is the same range C3:C11, and the match_type is set to "exact" with 0.
Based on this information, the MATCH function locates and returns the relative position of the max value in the range, which is 4 in this case.
The number 4 is supplied to INDEX as "row number" along with the range F3:F11, supplied as the lookup array. INDEX then returns the value in the 4th position in F3:F11m which is 3924.
Note: in case of duplicates (i.e. two or more max values that are the same) this formula will return info for the first match, the default behavior of the MATCH function.