(2 points) During 2018, P started manufacturing and selling a new product with a three-year warranty. P prepares annual AJEs once each year as of 12-31. Based upon past experience with similar products, P estimated the following warranty costs as a % of sales dollars: First year of warranty 2% Second year of warranty 3% Third year of warranty 5% Sales and actual warranty expenditures for 2018 and 2019 were as follows: 2018 2019 Sales $600,000 $800,000 Actual warranty expenditures 7,000 22,000 What was P's estimated warranty liability amount at the end of 2019