Hairston Rewards Inc. provides rewards services to licensees. Hairston records service revenue related to rewards$($granted as reward vouchers, which can be redeemed at a variety of retailers$)$ and recognizes the cost of redemptions in the year vouchers are sold to licensees. Hairston$$s past experience indicates that only $80\%$ of the vouchers sold to licensees will be redeemed. Hairston$$s liability for stamp redemptions was $$13,000,000$ at December $31,2024.$ Additional information for $2025$ is as follows.

Service revenue from vouchers sold to licensees $$9,500,000$

Cost of redemptions $($vouchers sold prior to $1/1/25)$ $$6,000,000$

If all the vouchers sold in $2025$ were presented for redemption in $2026,$ the redemption cost would be $$5,200,000.$

$.$ Whatamount should

Hairston

report as a liability for voucher redemptions at December $31,2025?$