8. Jim's Discount Warehouse sells three-year extended warrantees on its televisions and other electronics. As of December 31, 2019, Jim's estimates expected cash flows associated with electronics sold to date as follows for the next three years: 2020 Cash Flow Estimate $15,000 20,000 27,000 Probability Assessment 0.25 0.40 0.35 Total Expected Cash Flow $3,750 8,000 9,450 21,200 2021 20,000 22,500 30,000 .35 .35 .30 7,000 7,875 9,000 23,875 2022 30,000 35,000 40,000 .25 25 .50 7,500 8,750 20,000 36,250 Assume the cash flows will occur at the end of the respective years and that the pure rate of Interest, plus the expected inflation rate of annual interest equals 3.8%. Use the expected cash flow technique to value the warranty obligation for Jim's Discount Warehouse