Question 3: A company has a selling price of $1,500 each for its printers. Each printer has a 2 year warranty that covers replacement of defective parts. It is estimated that 3% of all printers sold will be returned under the warranty at an average cost of $144 each. During November, the company sold 24,000 printers, and 340 printers were serviced under the warranty at a total cost of $47,000. The balance in the Estimated Warranty Liability account at November 1 was $26,000. What is the company's warranty expense for the month of November?