Coronado Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 4 boxtops from Coronado Frosted Flakes boxes and $1. The company estimates that 60% of the boxtops will be redeemed. In 2021, the company sold 800000 boxes of Frosted Flakes and customers redeemed 346000 boxtops receiving 86500 bowls. If the bowls cost Coronado Company $3 each, how much liability for outstanding premiums should be recorded at the end of 2021?