Megan, age 35, is an actuary for a small fraternal life insurer. She is married with two small children, and plans to retire at age 65. She estimates that her average annual earnings over the next 30 years will be $60,000. She also estimates that one-half of her earnings will be used for federal and state taxes, life and health insurance premiums, 401(k) contributions, and her personal needs.

Based on a discount rate of 5 percent, the present value of 30 annual payments of $1 at the end of each year is $15.37. Calculate Megan’s human life value.