Kenji and Lucia Taylor have completed Step 1 of their needs analysis worksheet and determined that they need $3,522,000 to maintain the projected lifestyle of Lucia (age 38 ) and their two children (ages 8 and 10) in the event of Kenj's (the primary earmer's) death. The Taylors also have certain financial resources available after Kenji's death, however, so their life insurance needs are lower than this amount. If Kenji dies, Lucia will be eligible to receive Social Security survivors' benefits-approximately $3,000 a month (\$36,000 a year) until the youngest child graduates from high school in 10 years. After the children leave home, Lucia will be able to work full-time and earn an estimated $46,000 a year (after taxes) until she retires at age 65. Afer Lucia turns 65 , she'll recelve approximately $2,400 a month ( $28,800 a year) from her own Social Security and retirement benefits. The life expectancy for a woman within Lucia's demographic is 87 , The couple has also saved $60,000 in a mutual fund, and Kenjis employer provides him a $100,000 life insurance policy. Using this information, complete Step 2 of the needs analysis worksheet to estimate their totaf financial resources available after death. (Note: If the value of a certain entry is aero, be sure to enter " 0 " to receive credit.) Life Insurance Needs Analysis Worksheet (Part 2) Finally, to determine the vahue of ife insurance Kenj and Lucia should purchase, complete Step 3 of the needs analysis method by subtracting the total financial resources avallable from the total financial resources needed. True or False: Alternatively, the Taylors could have estimated their life insurance needs using the multiple-of-earnings method, a less complicated but less accurate method than the needs analysis. False True