Penn City$$s Capital Projects Fund incurred expenditures of $$4,000,000$ on a project in $20$X$0.$ $$3,600,000$ has been paid on these expenditures. Also, encumbrances outstanding on the project at December $31,20$X$0,$ total $$8,000,000.$ What amount should be recorded in Penn City$$s General Capital Assets accounts at December $31,20$X$0,$ for this project?

$$3,600,000$

$$4,000,000$

$$11,600,000$

$$12,000,000$