Fast Bikes, Inc. offers warranties on all their bikes. They estimate warranty expense at 5.5% of sales. At the beginning of 2024, the Estimated Warranty Payable account had a credit balance of $1,600. During the year, Fast Bikes had $296,000 in sales and had to pay out $6,000 in warranty payments. At the end of the year, what is the ending balance in the Estimated Warranty Payable accounts?

A.

$7,600

B.

$16,280

C.

$14,680

D.

$11,880