A home built in 1959 cost $14,500. The home is 32' x 48' and the attached garage is 18' x 20'. In 1983, the cost per square foot factors were $75 (house) and $15 (garage). If the improvement depreciated at 2% per year and the land value of the lot had risen to $25,000, what was the value of the property in 1983?

a. $84,367
b. $81,258
c. $87,531
d. $87,712