At the beginning of 2018, Angel Corporation began offering a two- year warranty on its products. The warranty program was expected to cost Angel 7% of net sales. Net sales made under warranty in 2018 were $214 million. Fifteen percent of the units sold were returned in 2018 and repaired or replaced at a cost of $4.80 million. The amount of warranty expense on Angel's 2018 income statement is: Multiple Choice $14.98 million. $32.10 million. $4.80 million. $18.38 million