Problem 5-62 (LO 5-3) (Algo) (The following information applies to the questions displayed below) Fred currently earns $11,100 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 $12,100 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $108,700 Problem 5-62 Part-0-1 (Algo) a-1. How much U.S. gross income will Fred report if he accepts the assignment abroad on January 1 of next year and works overseas for the entire year? Income reported