Final answer:
The V4 electrode should be placed on the left midclavicular line in the 5th intercostal space for correct ECG readings.
Step-by-step explanation:
The correct placement for the V4 electrode on the body is at the left midclavicular line, 5th intercostal space. This precise location ensures that the electrocardiogram (ECG) can accurately record the voltages created by the heart's depolarization and repolarization. Accurate ECG lead placement is vital for diagnosing various cardiac conditions and monitoring heart health.