Amount of Insurance Needed. Marty and Mary have jobs and contribute to the household expenses according to their income. Marty contributes 75% of the expenses and Mary contributes 25% Currently, their household expenses are $29.300 annually. Marty and Mary have three children. The youngest child is 12. so they would like to ensure that they could maintain their current standard of living for at least the next eight years. They feel that the insurance proceeds could be invested at 5%. In addition to covering the annual expenses, they would like to make sure that each of their children has $26 540 available for college IF Martyware to die, Mary would go back to school parttime to upgrade her training as a nurse. This would cost $17.930 They have a mortgage on their home with a balance of 555 204 How much life insurance should they purchase for Mary? The amount of life insurance they should purchase for Mary is $ (Round to the nearest dollar)