5. Mike is using the capital retention approach to determine how much life insurance to purchase Mike would like to provide HK$280,000 per year to his family, forever, if he dies. The assets that he has today will provide HK$200,000 in annual income without the liquidation of these assets. If life insurance proceeds can be invested to earn a annual return, how much life insurance should Mike purchase to fund the additional income needed to meet the HK$280,000 annual income goal? 5 percent (A) HK$80,000 (B) HK$800,000 (C) HK$1,200,000 (D) HK$1,600,000 (E) HK$5,600,000