Please use the "Needs Approach" to determine the recommended life insurance coverage for Jun-Li. She would like to have enough insurance to meet her final expenses ($25,000), pay off her loans, and provide 2 years of income for her survivors. Jun-Li has a mortgage balance of $250,000, an auto loan balance of $30,000, credit card debt of $2,000, and a federal student loan with a balance of $22,500. Her annual salary is $70,000. How much life insurance coverage would you recommend to Jun-Li to be sure her goals are met?

A.

$307,000

B.

$467,500

C.

$447,000

D.

$469, 500