4.0 site error

I am doing a brand new site and before I can write one line of code, I already have an error that states the following:

Description: An error occurred during the processing of a configuration file required to service this request. Please review the specific error details below and modify your configuration file appropriately.

Parser Error Message: Unrecognized attribute 'targetFrameworkMoniker'. Note that attribute names are case-sensitive.

<compilation debug="true" targetFrameworkMoniker=".NETFramework,Version=v4.0">
Who is Participating?
efibnConnect With a Mentor Commented:
Try to change the above line to:

<compilation debug="true" targetFramework="4.0" />
hosneylkConnect With a Mentor Commented:
Anurag AgarwalConnect With a Mentor Commented:
plc check

Target Framework Moniker
A Target Framework Moniker is a textual representation of a moniker that uniquely identifies a Target Framework.
It generally takes the form:
<Target Framework Identifier>,Version=v<Target Framework Version>,Profile=<Target Framework Profile>

Examples are:

Thus the Target Framework Moniker has at the most 3 components; the Identifier, Version and a Profile. The Identifier and the Version are mandatory while the Profile is optional.  

for more reference Concepts: Target Framework Moniker, Target Framework
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