Xcode error: Code signing is required for product type ‘Application’ in SDK ‘iOS 10.0’

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I have Xcode 8 installed on OS X El Capitan.

I get this error:

Signing for “target” requires a development team. Select a development team in the project editor.

Code signing is required for product type ‘Application’ in SDK ‘iOS 10.0’

Xcode screenshot

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