Sam and Ann Hoyt filed a joint federal income tax return for the calendar year 2009. Among the Hoyts' cash receipts during 2009 was the following: $6,000 first installment on a $75,000 life insurance policy payable to Ann in annual installments of $6,000 each over a 15-year period, as beneficiary of the policy on her uncle, who died in 2008. What portion of the $6,000 installment on the life insurance policy is excludable from 2009 gross income in arriving at the Hoyts' adjusted gross income? a. $0 b. $1,000 c. $5,000 d. $6,000