Macron Inc. started 2021 with a warranty liability of $460,000. During the year, it paid $70,000 in order to satisfy its warranty obligations with customers. Macron Inc. also had $2,350,000 in sales during 2021. The company estimates that its warranty costs from its 2021 sales will be 4% of its total sales. At the end of 2021, what is Macron's warranty liability