Problem 12-14 Calculating the Effect of Inflation on a Life Insurance Policy [LO12-4] Allen has purchased a whole life policy with a death benefit of $150,000. Assuming that he dies in 8 years and the average inflation has been 1 percent, what is the value of the purchasing power of the proceeds? Use (Exhibit 1-A, Exhibit 1-B. Exhibit 1-C. Exhibit 1-D) Note: Use appropriate factor(s) from the tables provided. Round time value factor to 3 decimal places and final answer to 2 decimal places