Hamden is entitled to receive monthly payments of $6,000 over his life from his employer's qualified pension plan. The payments begin January 1, 2019. He contributed $286,000 to the plan prior to his retirement at age 62. Using the simplified method, what amount of the payments will be excluded from Hamden's taxable income for 2019?

		$0.
		$13,200.
		$72,000.
		$58,800.