SEDCO is a big retailer of TV's. It provides customers with a one year warranty on its products.

Informotion about their sales in the last quarter of 2020 is as follows:

October November December

Units sold 1200 unit 1500 unit 1600 unit

Selling Price per unit $ 500 $ 500 $ 500

Estimated defective units (% of units sold) 4% 5% 5%

Actual units repaired 20 40 30

If the average repair cost for each unit under warranty is $ 70. How much is the balance in the Estimated Warranty Liability account on 31 December 2020?