The City of Matlock Issues $20,000,000 Face Value of General

The City of Matlock issues $20,000,000 face value of general obligation bonds for $19,900,000. The bonds will be used for the construction of new streets and sidewalks to make downtown more walkable. The City incurred $8,000 in bond issue costs. What is the amount of expenditures that the City report in its Capital Projects Fund?

A) $108,000
B) $100,000
C) $8,000
D) $0