General Product Inc. distributed 175 million coupons in 2021. The coupons are redeemable for 40 cents each. General anticipates that 70% of the coupons will be redeemed. The coupons expire on December 31, 2022. There were 45 million coupons redeemed in 2021 and 32 million redeemed in 2022. General recognizes coupon expense in the period coupons are issued. What was General's coupon liability as of December 31, 2021?

General Product Inc. distributed 175 milion coupons in 2021. The coupons are redeemable for 40 cents each. General anticipates that 70% of the coupons will be redeemed. The coupons expire on December 31,2022 . There were 45 million coupons redeemed in 2021 and 32 million redeemed in 2022. General recognizes coupon expense in the period coupons are issued. What was General's coupon liability as of December 31,2021