Banyan Corp. purchased a plot of land and equipment on October 1st, 2021. The land cost $80,000 and the equipment cost $30,000. Banyan plans to use the land for 10 years, and the equipment for 5. Banyan plans to resell the land for $70,000 and the equipment for $5,000. Using the straight-line method, what is the combined accumulated depreciation on December 31st 2023? $13,500 $27,000 O $11,250 $29.250