Which of the following statements regarding gross-up monetary value is correct? The gross-up monetary value of the fringe benefit is determined by dividing the monetary value of the fringe benefit by the gross-up monetary value factor The gross-up monetary value of the benefit is generally the total allowable deduction of the employer from his gross income. The gross-up monetary value includes the net amount of money received, the net monetary value of any property received, and the amount of fringe benefit tax received by the employee from the employer. The gross-up monetary value of the fringe benefit is simply a figure meant to represent the entire income earned by the employee