Joetta Hernandez is a single parent with two children and earns $59,900 a year. Her employer's group life insurance policy would pay 2.5 times her salary. She also has $79,867 saved in a 401(k) plan, $6,656 in mutual funds, and a $3,993 CD. She wants to purchase term life insurance for 15 years until her youngest child is self-supporting. She is not concerned about her outstanding mortgage, as the children would live with her sister in the event of Joetta's death. Assuming she can receive a 44 percent after-tax, after-inflation return on insurance proceeds, use the earnings multiple method to calculate her insurance need. How much more insurance does Joetta need to buy? What other information would you need to know to use the needs approach to calculate Joetta's insurance coverage?

Present Value of an Annuity of $1 (PVIFA)
n	1%	2%	3%	4%	5%	6%	7%	8%	9%	10%
1	0.990	0.980	0.971	0.962	0.952	0.943	0.935	0.926	0.917	0.909
2	1.970	1.942	1.913	1.886	1.859	1.833	1.808	1.783	1.759	1.736
3	2.941	2.884	2.829	2.775	2.723	2.673	2.624	2.577	2.531	2.487
4	3.902	3.808	3.717	3.630	3.546	3.465	3.387	3.312	3.240	3.170
5	4.853	4.713	4.58	4.452	4.329	4.212	4.100	3.993	3.890	3.791
6	5.795	5.601	5.417	5.242	5.076	4.917	4.767	4.623	4.486	4.355
7	6.728	6.472	6.23	6.002	5.786	5.582	5.389	5.206	5.033	4.868
8	7.652	7.325	7.02	6.733	6.463	6.21	5.971	5.747	5.535	5.335
9	8.566	8.162	7.786	7.435	7.108	6.802	6.515	6.247	5.995	5.759
10	9.471	8.983	8.53	8.111	7.722	7.36	7.024	6.710	6.418	6.145
11	10.368	9.787	9.253	8.760	8.306	7.887	7.499	7.139	6.805	6.495
12	11.255	10.575	9.954	9.385	8.863	8.384	7.943	7.536	7.161	6.814
13	12.134	11.348	10.635	9.986	9.394	8.853	8.358	7.904	7.487	7.103
14	13.004	12.106	11.296	10.563	9.890	9.295	8.745	8.244	7.786	7.367
15	13.865	12.849	11.938	11.118	10.380	9.712	9.108	8.559	8.061	7.606
16	14.718	13.578	12.561	11.652	10.838	10.106	9.447	8.851	8.313	7.824
17	15.562	14.292	13.166	12.166	11.274	10.477	9.763	9.122	8.544	8.022
18	16.398	14.992	13.754	12.659	11.690	10.828	10.059	9.372	8.756	8.201
19	17.226	15.678	14.324	13.134	12.085	11.158	10.336	9.604	8.950	8.365
21	18.857	17.011	15.415	14.029	12.821	11.764	10.836	10.017	9.292	8.649
22	19.660	17.658	15.937	14.451	13.163	12.042	11.061	10.201	9.442	8.772
23	20.456	18.292	16.444	14.857	13.489	12.303	11.272	10.371	9.580	8.883
24	21.243	18.914	16.936	15.247	13.799	12.550	11.469	10.529	9.707	8.985
25	22.023	19.523		15.622	14.094	12.783	11.654	10.675	9.823	9.077
30	25.808	22.396	19.600	17.292	15.372	13.765	12.409	11.258	10.274	9.427
40	32.835	27.355	23.115	19.793	17.159	15.046	13.332	11.925	10.757	9.779
50	39.196	31.424	25.730	21.482	18.256	15.762	13.801	12.233	10.962	9.915

Question - Assuming she can receive a 44 percent after-tax, after-inflation return on insurance proceeds and using the earnings multiple method, Joetta's insurance need is$____________ (Round to the nearest dollar.)