In 2021, Suho Company sold 500,000 boxes of cake mix under a new sales promotional program. Each box contains one coupon, which when submitted with Php40.00 entitles the customer to a baking pan. Suho pays Php50.00 per pan and Php5.00 for handling and shipping. Suho estimates that 80% of the coupons will be redeemed, even though only 300,000 coupons had been processed during the year. What amount should Suho report as liability for unredeemed coupons at December 31, 2021