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

Mio was transferred from New York to Germany. He lived and worked in Germany for 344 days in 2023 and can show that his tax home is now Germany. Mio's salary for 2023 is $232,000.

Assume a 365-day year. In your computation, round any division to four decimal places before converting to a percentage. For example, 0.473938 would be rounded to 0.4739 and converted to 47.39%. If required, round your final answer to the nearest dollar.

What is Mio's foreign earned income exclusion?