On July 1, 2019, Sunland Company purchased new equipment for $80,000. Its estimated useful life was 5 years with a $10,000 salvage value. On December 31, 2022, the company estimated that the equipments remaining useful life was 10 years, with a revised salvage value of $5,000. Compute the balance in Accumulated DepreciationEquipment for this equipment after depreciation expense has been recorded on December 31, 2022.