Which of the following statements with respect to capital gains reserves is correct? 1 The maximum capital gains reserve is equal to the ratio between the proceeds not yet collected and the total proceeds, multiplied by the capital gain. 2 The maximum capital gains reserve is limited to 20 percent of the total capital gain in the first year after the sale. 3 Any capital gains reserve that is deducted in the current taxation year must be added back to income in the subsequent taxation year. 4 There is no limit on how many years a reserve can be deducted