5 Required information The following information applies to the questions displayed below.) Fred currently earns $9,000 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 $10,000 per month if he accepts the assignment Assume that the maximum foreign earned income exclusion for next year is $108,700. c-2. I Fred's employer also provides him free housing (cost of $16,000 next year), how much of the $16,000 is excludable from Fred's Income? Assume that Fred will be abroad for 305 days out of 365 days next year. (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.) Amount to be excluded