3. Monumental Studios, in an effort to promote the release of their new movie "Ninjas from Space," began a national sales promotion campaign. Two coupons from specially marked boxes (one coupon in each box) of Sugar Charms cereal are redeemable for one ticket to the show. Tickets cost Monumental P1.50 each. Monumental estimates that 40% of the coupons will be redeemed. At the end of 2002, the following information is available: Boxes of cereal sold Movie tickets purchased by Monumental Coupons redeemed 640,000 140,000 250,000 Required: a. How much is the premium expense in 2002? b. How much is the estimated liability as of December 31, 2002