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A family of three has one income earner whose current annual income is $ 9 5 , 0 0 0 / year with a tax

A family of three has one income earner whose current annual income is $95,000/year with a tax rate of 26%. That income earner plans to work 24 more years. Given a discount rate that is already adjusted for a growing annuity equal to 3.6%(Adj. R in the notes), what is the resulting estimate of the amount of life insurance to purchase?

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