For Year Four, a private not$-$for$-$profit entity reported "net assets released from restrictions" on its statement of activities. A $$12,000$ cash gift had been received in Year One that could not be spent until Year Four has not yet been spent. A $$16,000$ cash gift had been received in Year Two that had to be spent on employee salaries. It was properly spent during Year Four. What amount is reclassified as unrestricted assets as a result of these two events?

Multiple choice question.

$$12,000$

$$16,000$

$$28,000$

Zero