Coronado.com sold5600units of its product for $480each during the year ending December 31, 2021. The selling price includes a one-year warranty on parts. It is expected that4% of the units will be defective and that repair costs will average $40per unit. In the year of sale, warranty contracts are honored on130units for a total cost of $5200. What amount should be reported onCoronado.com's balance sheet as Warranty Liability on December 31, 2021?