In 2023, Flint Corp. began selling a new line of products that carry a two-year warranty against defects. Based upon past experience with other products, the estimated warranty costs related to dollar sales are as follows: First year of warranty 4% Second year of warranty 7% Sales and actual warranty expenditures for 2023 and 2024 are presented below: 2023 2024 Sales $460000 $605000 Actual warranty expenditures 10000 20000 Flint uses the expense approach to account for warranties. What is the estimated warranty liability at the end of 2024? $24200 $30000 $117150 $87150