3. Concord Company sold 648,200 boxes of pie mix under a new sales promotional program. Each box contains one coupon, which submitted with $5.00, entitles the customer to a baking pan. Concord pays $7.00 per pan and $1.50 for handling and shipping. Concord estimates that 70% of the coupons will be redeemed, even though only 238,000 coupons had been processed during 2025. What amount should Concord report as a liability for unredeemed coupons at December 31, 2025? Liability for unredeemed coupons at December 31, 2025 $