Stan is currently 35 years old and plans to retire at age 69. He is married and has one child. Stan estimates that his average annual income between now and retirement will be $85,000. Based on his family's past expenditures, Stan expects to spend about 27 percent of his annual income on taxes and insurance premiums and another 30 percent on himself, with the remainder going to support his wife and daughter. Assuming a reasonable annual interest rate of 8 percent over his working lifetime, use the human life value approach to determine an appropriate amount of life insurance for Stan (Round your answer to the nearest dollar. Do NOT include a dollar sign or a comma in your answer.) Your Answer: Answer Fred (age 51) is married to Kelly (age 48) and has two children (ages 9 and 15). Fred is trying to determine an appropriate amount of life insurance to buy to replace the $14,000 annual Social Security benefit that Kelly will lose during the "blackout period" following Fred's death. If Fred dies today, how much life insurance would he need for this purpose? (Round your answer to the nearest dollar. Do NOT include a dollar sign or a comma in your answer.) Your