Required information Problem 5-62 (LO 5-3) (Algo) [The following information applies to the questions displayed below.] Fred currently earns $10,400 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $13,400 per month if he accepts the assignment. Assume that the maximum foreignearned income exclusion for next year is $120,000. Problem 5-62 Part c-2 (Algo) c-2. If Fred's employer also provides him free housing abroad (cost of $20,700 next year), how much of the $20,700 is excludable from Fred's income? Assume that Fred will be abroad for 305 days out of 365 days next year. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount
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