Larry purchased a traditional IRA when he was 32 years old. Over the years he has contributed and deducted from his taxes) $50,000 into the contract. Now, at age 62, Larry is retiring and plans to annuitize the contract. His life expectancy is 20 years, and he will receive $450 per month under a straight life annuity income option. Of the $5,400 he will receive annually from this annuity, how much will represent taxable income? $2,484 $2,916 $0 $5,400