Clara, age 64, retires and receives $1,800 per month in an annuity from her employers qualified pension plan. Clara contributed $91,000 to the plan prior to her retirement. Her life expectancy is 20.8 years. Clara would report how much of the annuity in income each month?

a. $1,450

b. $1,800

c. $ 350

d. $1,435

e. None of the answers provided is correct.