Chuck uses his personal credit card, the ABC Banks Happy Kilometres card, to pay for business expenses of which his employer reimburses him on a monthly basis. He has accumulated 100,000 happy K's on this card. Last year, he and his spouse, used the accumulated happy K's to take a 2 week vacation in the Bahamas. The FMV of this trip was $12,000. What amount of the cost of this vacation must Chuck claim as a taxable benefit on his tax return?