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An entity commences a new construction project which is to be financed by borrowing. The key dates for the current year are as follows: March 15 - Loan interest relating to the project starts to be incurred June 15 - Technical site planning commences June 30 - Expenditures on the project start to be incurred July 15 - Construction work commences From what date can the entity commence the capitalization of borrowing costs? June 30 O March 15 June 15 July 15