A city utility is accounted for as an enterprise fund. The following balances are derived from the utility funds year-end trial balance: Account Balance Dr. (Cr.) Capital assets $ 4,800,000 Accumulated depreciation, capital assets (1,500,000) Bond payable, acquisition of capital assets (2,000,000) Maintenance and repair expense, capital assets 300,000 Depreciation expense, capital assets 400,000 What amount should be reported as net investment in capital assets in the utility funds statement of net position? $2,400,000 $1,300,000 $3,300,000 $2,100,000