Which of the following statements is/are correct about the Land Revenue System of Ranjit Singh? 1. Batai System was replaced by a system of assessment known as Kanut. 2. The share of government was determined on the basis of a standing crop whose value was estimated in terms of money. 3. The state demand varied from two-fifth to one-third of the produce of the year. 4. Land revenue was collected twice a year. Which of the statement(s) given above is/are correct?

Answer: Option D