Levi and Beverly Paid 20% Down on a House Valued

Levi and Beverly paid 20% down on a house valued at $165,000 in 1994. They upgraded the house entirely in 2003, when they refinanced their mortgage for $165,000. If they sell the house in 2018 for $190,000, what would be the value of their equity in the home?

A) $68,000
B) $58,000
C) $33,000
D) $25,000