12. J elton Co. includes one coupon in each bag of dog food it sells. In return for ten coupons, customers receive a leash. The leashes cost J elton $1.00 each. Jelton estimates that 50% of the coupons will be redeemed. Data for 20x2 and 20x3 are as follows: 20x2 20x3 Bags of dog food sold 400,000 600,000 Leashes purchased 18,000 22,000 Coupons redeemed 100,000 350,000 The estimated liability for premiums at December 31, 20x3 is: a. $5,000 b. $4,000 c. $40,000 d. $50,000