Amount of Insurance Needed. Marty and Mary have jobs and contribute to the housenold expenses according to their income. Marty contributes $75\%$ of the expenses and Mary contributes $25\%.$ Currently, their household expenses

are $$35,200$ 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 $6\%.$ In addition to covering the annual expenses, they would like to make sure that

each of their children has $$30,000$ available for college. If Marty were to die, Mary would go back to school part$-$time

to upgrade her training as a nurse. This would cost $$30,000.$ They have a mortgage on their home with a balance of

$$95,274.$ How much life insurance should they purchase for Marty?

The amount of life insurance they should purchase for Marty is $

$($Round to the nearest dollar.$)$