During 20x1, Pitchfork Company sold 196 custom copiers for $4,420 each. Pitchfork includes a 1-year warranty with each copier sale and estimates the warranty costs to be $301 for each copier during the warranty period. During 20x1, Pitchfork incurred actual warranty costs of $17,380.

What is the estimated warranty liability Pitchfork will report at December 31, 20x1?

Group of answer choices

$41,616

$58,996

$17,380

$76,376