Sheffield manufactures high-end whole home electronic systems. The company provides a one-year warranty for all products sold. The company estimates that the warranty cost is $280 per unit sold and reported a liability for estimated warranty costs $10.9 million at the beginning of this year. If during the current year, the company sold 60400 units for a total of $320 million and paid warranty claims of $12140000 on current and prior year sales, what amount of liability would the company report on its balance sheet at the end of the current year?

$16912000.

$15672000.

$4772000.

$3005333.