Cary invested $100,000 in an annuity contract. This year, Cary annuitized the contract. The insurance company agreed to pay Cary $520.83 per month for 20 years. Assuming that Cary receives eight payments this year, how much can Cary exclude from his gross income this year?

$833.33.

$3,333.31.

$4,164.64.

$6,249.96.