1. Which of the following is true of dividend capture?

1. Corporations using dividend capture primarily invest in companies in which they seek a long-term investment for lower risk and recurring dividends
2. Corporations can omit from taxable income 70 to 80% of the dividends received from their ownership interests in other companies
3. Corporations can benefit more from the tax benefits of dividend capture when the market is in a secular downtrend
4. Corporations sell their investment in other companies after the ex-dividend date, ensuring that at least 31 days of ownership have elapsed