Mobiles Co Ltd sells goods with a one year warranty under which customers are covered for any defect that becomes apparent within a year of purchase. In calendar year 20x4, Mobiles Co Ltd sold 100,000 units. The company expects warranty claims for 5% of units sold. Half of these claims will be for a major defect, with an average claim value of $50. The other half of these claims will be for a minor defect, with average claim value of $10. What amount should Mobiles Co Ltd includes as a provision in the statement of financial position for the year ended 31 Dec 204