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Innovative Inc. offers a one-year warranty on all products it sold. Assume that at the start of 2016 the companys balance sheet included an accrued

Innovative Inc. offers a one-year warranty on all products it sold. Assume that at the start of 2016 the companys balance sheet included an accrued warranty liability of $15.4 million, and at the end of 2016 the accrued warranty liability balance was $11.5 million. It paid $65.8 million during 2016 to repair and/or replace goods under warranty. How much warranty expense did Innovative record during 2016?

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