Required Information Problem 5-62 (LO 5-3) (Algo) (The following information applies to the questions displayed below.] Fred currently earns $10,700 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 $11,700 per month if he accepts the assignment. Assume that the maximum foreign-earned Income exclusion for next year is $107,600. Problem 5-62 Part-b (Algo) b. Suppose that Fred's employer has offered Fred a six-month overseas assignment beginning on January 1 of next year. How much U.S. gross Income will Fred report next year if he accepts the six-month assignment abroad and returns home on July 1 of next year? Income reported