Coronado Industries includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Coronado $4 each. Coronado estimates that 45 percent of the coupons will be redeemed. Data for 2020 and 2021 are as follows: 2020 2021 Bags of dog food sold 500000 600000 Leashes purchased 16000 24000 Coupons redeemed 110000 170000 The premium liability at December 31, 2020 is O $50000. O $40000. O $62000. O $57500