A government has a general government capital project underway. In the first year of the project, the government purchased land for a building site for $75,000; signed a contract with a contractor for $8,000,000; was billed $4,500,000 by the contractor for work completed during the year; and paid the contractor $4,050,000. The land was also paid for. At the end of the first year, what amount of assets should be included in General Capital Assets accounts as a result of this activity?

A $75,000

B $4,125,000

C $4,575,000

D $8,075,000