Nelly recently graduated from college. She is employed by a mining exploration company and makes approximately $70,000 per year. Her primary goal is to begin saving for an emergency fund. After looking at her budget, Nelly determined that in the case of a severe emergency, she will need to replace 45% of her annual income. This is a conservative estimate, but Nelly believes the amount should be sufficient to pay for her rent, car payment, food, utility, and insurance expenses. Answer the following questions using the information provided [each question is worth 1 point]. A. How much income does Nelly need in the case of a severe emergency? B. After discussing her alternatives with you, assume Nelly concludes that she can meet all her necessary expenses with as little as $29,000 per year. If her goal is to establish a 6 month emergency fund, how much should she have on hand today? What will she need if she has a 3- month emergency fund goal? C. If Nelly can save $300 per month toward her emergency goal per question B above, how long will it take for her to obtain a 6 months of needed expenses, assuming she can earn a 2% rate of return on her savings? D. What type of assets would be appropriate for her emergency fund? E. Today, Nelly has few assets that she can use to pay emergency expenses. Until she saves enough for an emergency fund, what other options does she have for funding a potential emergency?