Bold ltd purchased mactinery on $1$ lanuary $2021$ at a cast of $R1200000$ A major inspection has to be carned out on the machinery every three years. The last inspectian perkumed on the mactine was on $31$ December $2000$ by the selli and the inspection costs were included in the purchase price. On the acquisinich date, fhe present value of future expected inspection costs to be incurred was estimatiod at an amount of R$240000.$ Dn the wequation date the estimatod useful life of $10$ years was alocated to the machime. The inspection component is part of the mactine and not a separate arset.

The carrying amount of the machinery $($including the inspection component$)$ for the year ended $31$ Decembe $2021$ is:

RI $124000$

A$1000000$

R$1056000$

P$1024000$n