Newark Co Employees Receive Two Weeks Paid Vacation Each Year And

Newark Co. employees receive two weeks paid vacation each year and, thus, the vacation pay rate is 4% per payroll. However, about 5% of all vacation pay is forfeited each year. Bi-weekly payroll is $430,000. How much vacation pay expense should Newark Co. accrue each period?

A) $21,500
B) $17,200
C) $16,539
D) $16,340
E) $ 860