Which of the following statements regarding grossed-up monetary value is correct? 1. The grossed-up monetary value of the fringe benefit is simply a figure meant to represent the entire income earned by the employee. The grossed-up monetary value includes the net amount of II. money received, the net monetary value of any property received, and the amount of fringe benefit tax. The grossed-up monetary value of the fringe benefit is II. determined by dividing the monetary value of the fringe benefit by 65% starting January 1, 2018. I only I and II only a. C. 1, Il and III b. d. None of the above