A company sells computers at a selling price of $1, 500 each. Each computer has a 2 year warranty that covers replacement of defective parts. It is estimated that 5% of all computers sold will be returned under the warranty at an average cost of $100 each. During November, the company sold 30,000 computers, and 400 computers were serviced under the warranty during November at a total cost of $55,000. The balance in the Estimated Warranty Liability account at November 1 was $37,000. What is the company's warranty expense for the month of November? $55,000 $150, 600 $37,000 $300,000 $150,000