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 question $2$:

Lightning Bolt $($Pty$)$ Ltd manufactures bolts and nuts. The lathe machine used in the production of bolts was purchased on $1$ October $2023$ for R$250000.$

The machine is depreciated on a straight$-$line basis over $5$ years. Upon acquisition, management noted that the machine requires major inspections every two years, with the cost of each inspection estimated at R$20000$ included in the purchase price.

On the date of acquisition management purchased small spare parts for R$10000$ that will be used for the machine in the future period.

QUESTION $2$:

In accordance with IAS $16-$ Property, Plant, and Equipment, how should these spare parts be recognized initially $($not subsequently$)?$

$1.$

Will be expensed to profit or loss;

$2.$

Will be depreciated separately as components.

$3.$

Will be treated as inventory;

$4.$

Will be capitalized to the machine;