Puppy Company includes one coupon in each bag of dog food it sells. In return for 5 coupons, customers receive a toy dog that the company purchases for $1 each. Puppy Company's experience indicates that 60% of the coupons will be redeemed. Information for 2012 is as follows: Bags of Dog Food Sold Toys Purchased Coupons Redeemed 2012 250,000 12,000 40,000 The amount of estimated liability for premiums on the 12/31/12 balance sheet is: Select one: O a. $6,000 b. $18,000 c. $22,000 d. $35,000 O e. $48,000