How many champions are declared in each event at the NFR?

In each event at the National Finals Rodeo (NFR), two champions are declared, which is why the answer is correct. This format allows for both a nightly winner and an overall season champion. Nightly champions are determined based on the individual performances during each of the ten nights of the NFR, while the overall champion takes into account the aggregate performance across all events throughout the NFR. This system highlights the athletes' consistency and skill over the duration of the competition, ensuring that both immediate and cumulative excellence are recognized, emphasizing the highly competitive nature of the rodeo events.

The other choices do not align with the established competition structure at the NFR. One champion could suggest that only a single winner is recognized for each event, while three or four would imply multiple leaders in a single event, which is not applicable to the format of the NFR.