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. In 2018, Dare Company began selling a new calculator that carried a two-year warranty against defects. Dare projected the estimated warranty cost (as a

. In 2018, Dare Company began selling a new calculator that carried a two-year warranty against

defects. Dare projected the estimated warranty cost (as a percent of sales) as follows:

First year of warranty 5%

Second year of warranty 10%

2018 2019

Sales 8,000,000 9,000,000

Actual warranty repairs 200,000 560,000

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