How Would the Construction Costs of $4,968,750 Be Reported at Year-End

How would the construction costs of $4,968,750 be reported at year-end?

A) As a capital asset in the Statement of Net Position only.
B) As an expenditure of the capital projects fund and an expense in the government-wide Statement of Activities.
C) As an expenditure of the capital projects fund and a capital asset in the government-wide Statement of Net Position.
D) As an expenditure of the capital projects fund only.