Question 12 of 15 0/1 Current Attempt in Progress Amanufacturing company sells motorcycles with a five-year warranty against manufacturer's defects. The manufacturer expects that 0% of the motorcycles sold will prove to be defective in the first year after they are sold, 1% will prove to be defective in the second year 2% will prove to be defective in the third and fourth years, and 3% will prove to be defective in the fifth year. The average cost to repair or replace a defective unit under the warranty is expected to be $50. The company's sales and warranty costs incurred in its first five years were as follows: Units Sold Actual Costs of Repairs and Replacements under the Warranty Plan $800 2016 7.500 2017 8.100 $16,700 2018 11,200 $31,000 2019 12.100 $25,000 2020 5,600 $12.900 Calculate the amount that should have appeared in the estimated Warranty Provision account at the end of 2018. Assume the balance in the Warranty Provision account was zero at the beginning of 2016, Estimated warranty provision account, Dec. 31, 2018 e Textbook and Media Attempts: unlimited Submit Answer Save for Later Last saved 16 minutes ago. Saved work will be auto-submitted on the due date. Auto submission can take up to 10 minutes