On July 10, 20XX, ABC Corp sold its products to retailers on account for a selling price of $721.070 with a cost of goods sold of $576,800. The company grants the right to return products that do not sell in three months following delivery. Past experience indicates that the normal return rate is 15.98%. By October 11, 20XX, retailers returned systems to the company and were granted credits of $80,250. Using these numbers, calculate how much refund liability the company is estimating for all the sales made. $112,346 $115,227 $118.108 $120.988 $123,869