A contractor provides employees with 12 days of vacation leave per year. The employees may carry over their vacation leave up to a maximum of 20 days. Historically, employees have lost 5% of their vacation leave. During 2020, employees earn $120,000 in vacation leave. In accordance with Cost Accounting Standard (CAS) 408, what should the compensated personal absence cost for vacation be during 2020? $94,000 $126,000 $120,000