The correct statement about the electrolysis of an aqueous solution of ${\mathrm{AgNO}}_3$ with Ag electrode is:

From the following, identify the reaction having the top position in the EMF series (standard reduction potential) according to their electrode potential at 298 K.

1. Mg²⁺+ 2e^–$\to$Mg_(s)
2. Fe²⁺ + 2e^–$\to$ Fe_(s)
3. Au³⁺+ 3e^–$\to$Au_(s)
4. K⁺+ 1e ^–$\to$K_(s)