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4. Alice, age 40, is married with one child in elementary school. She estimates that her average annual earnings over the next 25 years will

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4. Alice, age 40, is married with one child in elementary school. She estimates that her average annual earnings over the next 25 years will be $80,000. She estimates that one fourth of her average annual earnings will be used to pay taxes, insurance premiums and the costs of self- maintenance. The reminder will be used to support her family. Given the discount rate of 5 percent, calculate Alice's human life value

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