Suppose that you earn $50,000 annually. You expect expenses to drop by 22% for your family in the event of your death. Currently, if you die, you want to provide for your family for at least ten more years, and the applicable after-tax and inflation return assumed is 6%. Using the earnings multiple approach provided in your textbook, what would be the amount of life insurance that you should purchase? Question 9 options: a) $110,000 b) $116,600 c) $221,332 d) $287,043 e) $500,000

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