During the year, Omega Equipment sold 150 golf carts for $3,000 each. The golf carts carry a 5-year warranty for defects. Estimates suggest that repair costs will average 4% of the total selling price. The estimated warranty liability at the beginning of the year was $14,000, and $20,000 in claims was actually incurred during the year to honor the warranty. What was the warranty expense at the end of the year? O $12,000 $4,000 O $20,000 OSIR000