Required Information Problem 5-62 (LO 5-3) [The following information applies to the questions displayed below.] Fred currently earns $10,400 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 $11,400 per month if he accepts the assignment. Assume that the maximum forelgn-earned Income exclusion for next year is $105,900. Problem 5-62 Part-c-2 c-2. If Fred's employer also provides him free housing abroad (cost of $16,700 next year), how much of the $16,700 is excludable from Fred's Income? Assume that Fred will be abroad for 305 days out of 365 days next year. (Use 365 days in a year. Do not round Intermediate calculations. Round your final answer to the nearest whole dollar amount.) * Answer is complete but not entirely correct. Amount to be excluded 16.700