Larry purchased an annuity from an insurance company that promises to pay him $1,500 per month for the rest of his life. Larry paid $165,564 for the annuity. Larry is in good health, and he is 72 years old. Larry received the first annuity payment of $1,500 this month. Use the expected number of payments in Exhibit 5-1 for this problem. How much of the first payment should Larry include in gross income?