Exercise $5-22($Algorithmic$)($LO$.2)$

Mio was transferred from New York to Germany. He lived and worked in Germany for $356$ days in $2024($a leap year$)$ and can show that his

tax home is now Germany. Mio's salary for $2024$ is $$294,400.$

Assume a $366-$day year. In your computation, round any division to four decimal places before converting to a percentage.

For example, $0\mathrm{.}473938$ would be rounded to $0\mathrm{.}4739$ and converted to $47\mathrm{.}39\%.$ If required, round your final answer to the

nearest dollar.

What is Mio's foreign earned income exclusion?

$