Which one has the correct pronoun?

Question

The team of reporters stunned their audience when the results of the election were revealed.

The team of reporters stunned its audience when the results of the election were revealed.

Answer 1

What is the subject of each of these sentences? Is the subject singular or plural?

Hint: Subjects are never in prepositional phrases.

Answer 2

The team of reporters stunned their audience when the results of the election were revealed.

Answer 3

The team of reporters stunned its audience when the results of the election were revealed.

Answer 4

The team of reporters stunned their audience when the results of the election were revealed.

The team of reporters stunned its audience when the results of the election were revealed.