Sal and Jenny have three children and called you to review their life insurance needs, Based on the information below, calculated the amount of life insurance Sal requires. Jenny's After-tax income (last calendar year) $75,000 Sal's After- tax income (last calendar year) $70,000 Jenny's RRSP's $100,000 Sal's RRSP's $125,000 Sal's Vehicle $60,000 Jenny's Vehicle $45,000 Primary Residence $1 Million Cash $25,000 Mortgage $585,000 Jewelry $25,000 Antiques $10,000 Line of Credit (loan) $25,000 Credit Cards $25,000 Personal loans (cars, etc.) $25,000 Education Costs $125,000 Funeral Costs each $20,000 Continuing household expenses $80,000 They are beneficiaries of each other's RRSPs Investment rate are at 6%. Inflation is 2.5% Tax rate on investments is 20% The antiques and jewellery would not be liquidated upon the death of one. They would sell Jenny's vehicle in the event of either of their deaths They would like the calculation based on a 20-year period.