Hal Gore won a $1.5 million prize for special contributions to environmental research. This prize is awarded for public achievement, and Hal directed the awarding organization to transfer $517,500 of the award to the Environmental Protection Agency. How much of the prize should Hal include in his gross income?

$517,500.

$982,500.

$1.5 million.

None of the choices are correct because all prizes are excludible.

None of the choices are correct because prizes from charities are excludible.