Jake Co. includes three coupons in each bag of dog food that it sells. A customer can receive a dog leash in return for fifteen coupons. Information of dog food sales, coupons redeemed, and dog leashes purchased for 2014 and 2015 are provided below. Each dog leash costs $2.00. Jake estimates that 50% of the coupons will be redeemed. Bags of dog food sold Leashes purchased Coupons redeemed 2014 2015 200,000 300,000 50,000 50,000 100,000 50,000 Request to Extend or Shorten Time The estimated liability for premiums for Jake Co. as of December 31, 2015 is: a. $80,000 b. $50,000 c. $20,000 d. $160,000