Joe Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 4 box tops from Joe Frosted Flakes boxes and $1.7. The company estimates that 42% of the box tops will be redeemed. In the current year, the company sold 444,644 boxes of Frosted Flakes and customers redeemed 80,832 box tops. If the bowls cost Joe Company $3.21 each, how much liability for outstanding premiums should be recorded at the end of the year?