With regard to uncertain tax positions, the FASB requires that companies recognize a tax benefit when which of the following conditions is met?

Select answer from the options below

When it is more likely than not that the tax position will be sustained upon audit.

When the tax position is no longer uncertain.

When there is at least a $40\%$ probability that the uncertain tax position will be approved by the taxing authorities.

When it is probable and can be reasonably estimated.