sam and ann hoyt filed a joint federal income tax return for the year 2005. amon the hoyt's cash receipts during 2005 was the following: 6,000 first installment on a 75,000 life insurance policy payable to ann in annual installments of 6000 each over a 15 year period, as benficiary of the policy on her uncle, who dies in 2004. what portion of the 6000 installment on the life insurance policy is excludable from 2005 gross income in arriving at the hoyts' adjusted gross income