Explanation:

- Right of Subrogation means that after paying the debt on behalf of the principal debtor, the surety gets certain rights.

- Option 1: The surety steps into the shoes of another – This means the surety can act as if they were the original creditor, claiming rights against the debtor.

- Option 2: He is entitled to the benefit of every security which the creditor has – The surety can use any security or collateral that the creditor held against the debtor.

- Option 3: The surety can claim indemnity from the principal debtor – The surety can recover from the debtor whatever was paid on their behalf.

- Option 4: All the above – Since all statements are correct, this is the best option.