Peder Prescott is 58 years old and is employed as a corporate tax planning adviser by Senators LLP. Peder is married to Kyler Prescott; Kyler is an investment analyst at Redwings plc, a large investment bank.

Peder owns an investment portfolio of tangible and intangible assets.

Peder intends to retire in the near future; he plans to acquire a retirement home in Toulon (France). To finance this acquisition, he made a number of disposals from his investment portfolio during the tax year 2021/22.

Which TWO of the following disposals would be exempt or wholly relieved from capital gains tax in 2021/22?

1. Sale of qualifying corporate bonds issued by Flames plc, an engineering company that operates in the North Sea oil and gas sector
2. Sale of an oil painting to Kyler Prescott. The oil painting had a market value on disposal of 138,000, but Peder sold it to Kyler for a total consideration of 7,000. The painting cost 62,000 when acquired by Peder on 9 June 2001
3. Sale of Peder's principal private residence (i.e.his main residence), a house in London (UK). Peder acquired the house in 1998
4. Part disposal of 400 shares in Jaguars Inc., a company that is resident in Miami (USA). The shares were acquired in two acquisitions of 170,000 for 582 shares on 11 November1996 and 262,000 for 403 shares on 20 January 2003, respectively. The net disposal consideration of this part disposal was 608,000