The CFO of a publicly traded computer manufacturing company is assessing the concerns and motivations of different stakeholder groups with respect to the firm's hedging strategies. Which of the following statements is correct?

1. If the firm's equity investors hold a well-diversified portfolio of investments, they would typically prefer that the firm hedge risks specific to the computer industry.

2. Equity investors would typically not reward the firm for using hedging to reduce its tax exposure over a multi-year period.

3. The firm should typically not hedge the foreign exchange risk of long-term contracts to international customers.

4. Debt investors would typically prefer that the company use hedging strategies to increase the stability of its revenue stream.