3. Coronado Company sold 692,800 boxes of pie mix under a new sales promotional program. Each box contains one coupon, which submitted with $4.20, entitles the customer to a baking pan. Coronado pays $6.20 per pan and $0.70 for handling and shipping. Coronado estimates that 70% of the coupons will be redeemed, even though only 246,400 coupons had been processed during 2020. What amount should Coronado report as a liability for unredeemed coupons at December 31, 2020? Liability for unredeemed coupons at December 31, 2020 $