VMike is working his way through college and trying to make ends meet. Tara, a friend, is graduating soon and tells Mike about a really great job opportunity. She is the onsite manager for an apartment complex catering to students. The job entails working in the office for about $10$ hours a week, collecting rent each month, and answering after$-$hours emergency calls. The owner of the apartment complex requires the manager to live onsite as a condition of employment. The pay is $$10$ per hour, plus a rent$-$free apartment $($worth about $$500$ per month$).$ Tara then tells him the best part: the rent$-$free apartment is tax$-$free as well. Knowing that you are a tax student, Mike asks you if the rent$-$free apartment is really tax$-$free or if Tara is mistaken. Explain to Mike whether the compensation for the apartment is really a nontaxable fringe benefit

NEED THIS IN A PROPER TAX MEMO FORMAT PLEASE!