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Larkspur manufactures and sells computers for $2,400 each, with a two-year parts and labour warranty. Based on prior experience, the company expects, on average, to incur warranty costs equal to 5% of sales. The business reports the following sales and warranty cost information: Calculate the warranty expense for each year. Calculate the warranty liability at the end of each year. Warranty liability 2022 2023 $ 2024 $