A company has a selling price of $1,850 each for its printers. Each printer has a 2 year warranty that covers replacement of defective parts. It is estimated that 3% of all printers sold will be returned under the warranty at an average cost of $151 each. During November, the company sold 31,000 printers, and 410 printers were serviced under the warranty at a total cost of $56,000. The balance in the Estimated Warranty Liability account at November 1 was $29,500. What is the company's warranty expense for the month of November?

Multiple Choice

a. $26,500

b. $61,910

c. $70,215

d. $56,000

e. $140,430