2. In Year 4, the firm distributed $60,000 worth of coupons for use by customers when they buy certain products. The management of the firm estimates that 25% of the coupons will be redeemed. The coupons have no expiration date. The management of the firm authorizes merchants to add 20% to the value of coupons redeemed to offset management's "pain and suffering' when dealing with these coupons. During the year, payments of $11,500 have been made to merchants redeeming coupons. This was the first time Orion had distributed coupons to any customers. REQUIRED: Expense in Year 4 from offering these coupons: $ Estimated Liability at Dec. 31, Year 4, resulting from this coupon offering: $