Cereal Company offers a premium to its customersa glass cup (cost toFulgentius Cereal is $1.00) upon return of 25 coupons. Two coupons are placed in each box of cereal sold. The company estimates, on the basis of past experience, that only 50% of the coupons will ever be redeemed. During 2019, 10 million boxes of cereal are sold at $3.50 each. Eight million coupons are redeemed during 2019. Fulgentius Cereal purchased 410,000 glass cups for the plan in 2019. The balance in the Premium Liability account at the end of 2019 would be: