General Product Inc

Multiple Choice

General Product Inc. distributed 100 million coupons in 2018. The coupons are redeemable for 30 cents each. General anticipates that 70% of the coupons will be redeemed. The coupons expire on December 31, 2019. There were 45 million coupons redeemed in 2018 and 30 million redeemed in 2019.
- What was General's coupon liability as of December 31, 2018?

A) $7.5 million.
B) $13.5 million.
C) $16.5 million.
D) $21.0 million.