Answer the following multiple$-$choice questions. Indicate your choice by selecting only one option from the four options given for each question answered. Round off all calculations to the nearest Rand or $2$nd decimal $\%,$ where applicable.

Use the following information to answer questions $19$:

Byde Ltd acquired $3,500$ shares in Nikola Ltd at a price of R$9\mathrm{.}00$ per share on $1$ July $2023.$ The shares are part of a long$-$term investment portfolio. Transaction costs related to the acquisition amounted to R$3,000.$ At year$-$end, $31$ December $2023,$ the market value of one Nikola Ltd share was R$17\mathrm{.}00.$

QUESTION $19$:

REQUIRED:

In accordance with IFRS $9-$ Financial Instruments, how should the shares be initially measured?

$1.$

R$34500($the price paid for the shares plus transaction costs$)$;

$2.$

R$3000($the transaction costs only$)$;

$3.$

R$28500($the price paid for the shares$)$;

$4.$

R$31500($the fair value of the shares at acquisition$)$;