Chris and Lisa have a newborn child and are shopping for life insurance. Chris earns $90000 a year and Lisa cares for their child. They have a $370000 mortgage with 20 years remaining and are concerned if something were to happen to Chris, how their family can manage. If they wish to cover the family expenses until the child turns 20 , approximately how much term insurance would they purchase? (Assume the expected annual return is 5% ) $1270000. $900000. $751600. $1121600