On January 1, 2020, Betty DeRose, Inc. purchased equipment for $95,000. The equipment was assigned an estimated useful life of 15 years and a salvage value of $15,200. On January 1, 2024, Betty DeRose decided the life of the equipment should be changed from 15 to 25 years with a salvage value of $8,200 at the end of the 25 years. Betty DeRose uses the straight-line depreciation method to calculate depreciation on its assets. Calculate the book value of the equipment at December 31, 2028