A cable company is building a cable network covering many franchise areas. The construction is carried 03 out sequentially for each of the areas. Once the construction is completed in each franchise area, the network will be available for use there. The expenditure is being funded from a general pool of borrowings. When should the capitalization of borrowing cost cease for an individual franchise area? 

• When no further finance resources are available 
• At the completion of that individual franchise area 
• At the completion of substantially all of the franchise areas 
• At the end of the entire project

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