Problem 6-13 xYour answer is incorrect. Try again Chris's Lawn Equipment sells high-quality lawn mowers and offers a 3-year warranty on all new lawn mowers sold. In 2017, Chris sold $321,800 of new specialty mowers for golf greens for which Chris's service department does not have the equipment to do the service. Chris has entered into an agreement with Mower Mavens to provide all warranty service on the special mowers sold in 2017. Chris wishes to measure the fair value of the agreement to determine the warranty liability for sales made in 2017 The controller for Chris's Lawn Equipment estimates the following expected warranty cash outflows associated with the mowers sold in 2017 Cash Flow Probability Estimate $2,690 4,000 4,760 Year Assessment 20% 60% 20% 2018 30% 50% 20% 2019 $2,960 5,130 6,040 $3,670 5,460 7,250 2020 30% 40% 30%