Taylor used to work as a yoga instructor at the local gym earning $41000 a year. Taylor quit that job and started working as a personal trainer. Taylor makes $55,000 in total annual revenue. Taylor's only out-of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $2,500 per year for equipment.

Taylor's explicit costs are ______, and Taylor's implicit costs are ______.

Select one:

a. $20,500; $25,500

b. $25,500; $20,500

c. $15,500; $41,000

d. $41,000; $15,500