Cary invested $100,000 in an annuity contract many years ago. This year, Cary annualized the contract. The insurance company agreed to pay Cary $520.83 per month for20 years. Assuming that Cary receives eight payments this year, how much can Cary exclude from the gross income this year?

a, $833.33; b, $3,333.31 c, $4,164.64; d, $6,249.96