Suppose you are $23$ years old and expect to work until age $61.$ You earn $$82,369$ per year. You expect inflation to be $2\%$ over your working life, and the risk$-$free discount rate is $4\%.$ Your personal consumption is equal to $14\%$ of your after$-$tax earnings. You are married filing jointly and face a combined federal and state marginal tax rate of $15\%.$ What is your expected life insurance needs according to the adjusted capitalization of earnings method

$[$Round the final answer to the nearest cent$]$