The depreciation deduction for year 11 of a 15-year property with a 20-year class life is $4,000. If the salvage value of the asset is estimated to be $5,000 and MACRS-GDS is used to calculate the depreciation deduction for year 11, what was the initial cost of the asset?

a) $42,105

b) $67,682

c) $72,682

d) $80,000