Larry purchased an annuity from an insurance company that promises to pay him $6,000 per month for the rest of his life. Larry paid $630,720 for the annuity. Larry is in good health and is 72 years old. Larry received the first annuity payment of $6,000 this month. Use 14.6 as the expected number of payments for this problem.

(c) What are the tax consequences if Larry dies just after he receives the 100th payment?