Waymire Company sells a motor that carries a 60-day unconditional warranty against product failure. From prior years' experience, Waymire estimates that 3% of units sold each period will require repair at an average cost of $100 per unit. During the current period, Waymire sold 73,000 units and repaired 1,000 units. (b) What warranty liability related to current period sales will Waymire report on its current period-end balance sheet? Assume that actual repair costs are as estimated. (Hint: Remember that some units were repaired in the current period.)