Swifty Trading Stamp Co. records stamp service revenue and provides for the cost of redemptions in the year stamps are sold to licensees. Swifty's past experience indicates that only 70% of the stamps sold to licensees will be redeemed. Swifty's liability for stamp redemptions was $7580000 at December 31, 2020. Additional information for 2021 is as follows: Stamp service revenue from stamps sold to licensees Cost of redemptions $5990000 5010000 If all the stamps sold in 2021 were presented for redemption in 2022, the redemption cost would be $4460000. What amount should Swifty report as a liability for stamp redemptions at December 31, 2021? $ 5692000. $7030000. $12590000. $ 8560000.