Required information [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 affillate. 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 $112.000. 1. How much US. gross income will Fred report if he accepts the assignment abroad on January 1 of next year and works overseas or the entire year? Required information [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 forelgn-eamed income exclusion for next year is $112,000. a-2. If Fred's employer also provides him free housing abroad (cost of $21,700), how much of the $21,700 is excludable from Fred's ncome? Answer is complete but not entirely correct