On October 10, 2013, Printfast Company sells a commercial printer for $3,450 with a one-year warranty that covers parts. Warranty expense is projected to be 5% of sales. On February 28, 2014, the printer requires repairs. The cost of the parts for the repair is $160 and Printfast pays their technician $260 to perform the repair. What warranty expense is recorded for this printer during 2014?