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GIT quotient for a certain torus action on an affine space

I'm reading various books and some notes and here is my question. Let $(\mathbb{C}^*)^2$ act on $\mathbb{C}^4$ by $$(\lambda_1,\lambda_2).(x_1, x_2, y_1,y_2)=(\lambda_1 x_1, \lambda_2 x_2, ...