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Panther Co. had a quality-assurance warranty liability of $353,000 at the beginning of 2021 and $313,000 at the end of 2021. Warranty expense is based

Panther Co. had a quality-assurance warranty liability of $353,000 at the beginning of 2021 and $313,000 at the end of 2021. Warranty expense is based on 4% of sales, which were $41 million for the year. What amount of warranty costs were paid during 2021?

Multiple Choice

  • $1,640,000.

  • $0.

  • $1,680,000.

  • $1,600,000.

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