ABC Company places one coupon in each box. Five coupons are redeemable for a hand...
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ABC Company places one coupon in each box. Five coupons are redeemable for a hand puppet. In 2019, the company purchases 700,000 puppets at 14.00 pesos and sells 1,920,000 boxes of "Honey Puffs" at 40/box. Based from its experience with the similar premium offers, ABC Company estimates that 80% of the coupons will be mailed back for redemption and will cost 5 pesos. How much is the estimated premium liability in 2019?
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