1) when it comes to determining the amount of life insurance required with the income replacement approach, which of the following statements is true? A higher inflation will result in a higher life insurance amount and higher income tax will result in a lower life insurance amount. B higher inflation will result in a higher life insurance amount and higher income tax will result in a higher life insurance amount. C higher inflation will result in a lower life insurance amount and higher income tax will result in a lower life insurance amount. D higher inflation will result in a lower life insurance amount and higher income tax will result in a higher life insurance amount