Pina Company began the year with a credit balance in the Refund Liability account of $46200. Credit sales during the year were $700000. Pina customers made cash payments on account of $670000. During the year, customers returned $34650 worth of goods. Pina estimates that 6% of credit sales will be returned. What is the balance in Pina's Refund Liability account at the end of the year?