R4 advertises loopback 0 into RIP, which is further redistributed by R2 into OSPF. R3 then redistributes OSPF back to RIP with a metric of 1 which causes 2 problems.
First problem is that R2 has 2 paths to reach the loopback of R4 one from R4 itself and other being redistributed by R3. Second problem is that link between R1 and R2 will not be advertised to R4 because of the distance vector problem (a router will only advertise a route if it has the protocol activated on the link or if it learns the route from a remote source via the same routing protocol).
R4#sh run | sec rip
R2#sh run | sec router
router ospf 1
redistribute rip subnets
network 126.96.36.199 0.0.0.0 area 0
R3#sh run | sec router
router ospf 1
redistribute ospf 1 metric 1
Solution to the first problem would be to filter the 4.4.4/24 network at R3 from being advertised back to RIP. When there are multiple points of redistribution, and the network which is being redistributed could only be reached via one path, then the initial router which is exchanging routes to another routing domain (redistributing) must not choose any other path other than the one from which it initially learned.
For this problem we could do either filtering at R3 or at R2. The below example demonstrates to filters the route at R3 by setting the metric to 16.
R3(config-route-map)#match ip address R4_LOOPBACK
R3(config-route-map)#set metric 16
R3(config)#ip access-list standard R4_LOOPBACK
R3(config-router)#redistribute ospf 1 metric 1 route-map FILTER_R4_LOOPBACK
R2#debug ip routing
RT: del 188.8.131.52/24 via 10.0.23.3, rip metric [120/1]
RT: NET-RED 184.108.40.206/24
Solution to the second problem does not relate to redistribution rather a normal distance vector protocol behavior. Even if R2 receives the 12/8 network via RIP from R3, it does not use that RIP update as it has the network directly attached. To resolve this issue redistribute either OSPF or connected at R2 into RIP. In this particular case R2 could also generate a default route.
R2(config-router)#redistribute ospf 1 metric 3
R4#debug ip routing
RT: SET_LAST_RDB for 220.127.116.11/8
NEW rdb: via 10.0.24.2
RT: add 18.104.22.168/8 via 10.0.24.2, rip metric [120/3]
RT: NET-RED 22.214.171.124/8
To conclude, if a route 'X' could only be originally learned from one particular source, the same route 'X' must not be relearned from any other source. DV protocols only advertise a network, if the network is added under the corresponding routing process using the network command or if it has a route in the RIB learned via the same routing protocol.