Maria and Patrick are in their mid-ZOs and are expecting their first child in a few months. Although they have not married. they have merged their finances and are planning to marrv soon. Thev both have been working steadily, and her income averages around $2,840 per month, his about $3,000 per month. Although they have been living comfortably, they have not managed to save anything, including tor emergencies In Maria's words. "We don't even have a savings account. We spend almost evervthing we make." Every month they deposit each of their paychecks into separate checking accounts. Patrick pas the rent anc car loan, Maria bus the groceries and pays the utilities. They use the leftover money to buv new clothes and other "necessities of enjoying life." Their only debt is the car loan. They are concerned about the effect the new baby will have on their finances. Here are some numbers: Monthly income: $5,840 (gross - before taxes) Living expenses: $3,900 Assets: $13.500 Liabilities: $4,800 Questions: What is the minimum amount that they should have in an emergency fund? How did you come up with that amount? What can they do to get there? Where should they put the emergency fund? Why did you select that type of account? What other personal finance recommendations would vou make? Remember that a baby is on the wav. Which of the worksheets in any of the chapters we've covered so far would be useful for them? Don't ignore taxes in your answer. use a back-of-the envelope calculation of about 30% to deal with federal, state, and FICA payroll taxes