Leland pays premiums of $37,250 for an insurance policy in the face amount of $186,250 upon the life of Caleb and subsequently transfers the policy to Tyler for $55,875. Over the years, Tyler pays subsequent premiums of $11,175 on the policy. Upon Caleb's death, Tyler receives the proceeds of $186,250.

As a result, what amount is Tyler required to include in his gross income?