Assume that in 2017 Bookmarker sold DVDs without a warranty from the publisher for a total amount of €20,000. For these DVDs, Bookmarker would offer their own warranty policy. Under this warranty policy, during 2017, already 20 DVDs had to be replaced, which costed Bookmarker €12 per replaced DVD. Using the estimates from Sandra above, calculate the warranty liability on the balance sheet of Bookmarker at the end of 2017.