Fred Ritz earns about $95,000 per year and is married. His spouse works and earns $70,000. She plans to keep working after he died. He has a mortgage of $90,000, a car loan of $10,000 and a credit card balance totaling $2000. He has estimated it will cost about $5000 for his funeral. Determine the couples insurance needs if Fred dies. Show your computations to get full credit for your answer.