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During 2024, Deluxe Leather Goods issued 856,000 coupons which entitles the customer to a $4.40 cash refund when the coupon is submitted at the time of any future purchase. Deluxe estimates that 72% of the coupons will be redeemed. 331,000 coupons had been processed during 2024. Deluxe recognizes coupon expense in the period coupons are issued. At December 31, 2024, Deluxe should report a liability for unredeemed coupons of: Multiple Choice $1,255,408. $1,663,200. $616,320. $2,310,000