On 1/1/24, Traverse Company sold 100 components at $700 each. All sales were cash sales. Estimated total cost servicing the components was $1,100 each year of the five-year-warranty. Traverse spent $1,500 servicing the components in 2024 and $500 servicing components in 2025 . This is considered an "assurance-type" warranty; Traverse uses the Expense Warranty approach. What is 2024 Warranty Expense? Select one: a. 50 b. 54,000 c. 51,400 d. $5,500 e. $3,900