Required information Problem 5-59 (LO 5-2) (Algo) [The following information applies to the questions displayed below.) Larry purchased an annuity from an insurance company that promises to pay him $9,500 per month for the rest of his life. Larry paid $915,420 for the annuity. Larry is in good health and is 72 years old. Larry received the first annuity payment of $9,500 this month. Use the expected number of payments in Exhibit 5-1 for this problem. Problem 5-59 Part-a (Algo) a. How much of the first payment should Larry include in gross income? Amount to be included Problem 5-59 Part-b (Algo) b. If Larry lives more than 15 years after purchasing the annuity, how much of each additional payment should he include in gross income? Amount to be included Problem 5-59 Part-c (Algo) c. What are the tax consequences if Larry dies just after he receives the 100th payment