During a governor test, cut-out occurs at 148 psi and cut-in at 124 psi. What is correct?

1. Pass, because 148 psi is close to 150 psi
2. Fail, because cut-in must be exactly 100 psi
3. Fail, because cut-out must not be higher than 145 psi
4. Pass, because cut-in is above 80 psi