Step 1: Use the formula for the sum of inverse tangents.
We use the formula for the sum of inverse tangents:
\[
\tan^{-1} x + \tan^{-1} y = \tan^{-1} \left( \frac{x + y}{1 - xy} \right)
\]
Substituting \( \frac{1}{4} \) and \( \frac{1}{9} \), we get the answer as \( \tan^{-1} \left( \frac{1}{5} \right) \).
Thus, the correct answer is (4).