John age 40, is married to Sarah. John makes $95,000 per year. They have two children, ages 4 and 2. He pays income taxes of $16,500 per year and FICA taxes of $4,000 per year. Frank consumes $20,000 per year of the familys expenses. He expects raises of 2% annually and plans to retire at age 67. He expects inflation to be 3%. Using the human life value approach, calculate the required amount of life insurance.