Larry, a 40 year old salesperson, earns $90,000 per year and plans to work until age 65. He is married to Joan and has 2 children. He expects his annual salary increases to be 3%, and the inflation rate to be 3%, and their average tax bracket (state and federal) is 25%. Larry estimates that 15% of his after-tax income is used for personal consumption. Based on the Human Life Value approach to life insurance needs analysis, how much life insurance should Larry purchase?