[tuition 3 IE marital Kitty. age 33, is married and hm asori. age 5. She wants to detenninehow much life insurance she should own She would like to provide $25.01)!) each year before taxes ioherfamilyifsheshwdieSheowusahouscjointlyWithherhushandthathasa current market value of $450," with a mortgage ofSZSJIDD. Kitty and her husband also have 52MB" other personal and household property. She owes sauna on a car loan and credit cards. She would like to establish a nation emergency ind, have the mortgage, car loan1 and credit card debts paid o'ifshe should die. She hm Slii} mutual end intresttnents, and her checking account balanee is $3,0t]. She owns an individual life inallanoe policy in the amount of $3. that her parents purchased for her when she was a baby. Estimated Social Security ain'vi'I-I'ot' benets are Sl armually. Kitty asstunes the life insurance proceeds can be invested at 5 percent interest. {a} Based on the capital retention approaCh, how much additional life insurance, ii'any, should Kitty purchase to meet her nancial goals? Show the steps for the capital retention approach. (It marks} [bl 1What are the nonforferture options if Kittyr has a traditional cash 1value policy and stops making premium payments? (3 marks} (e) 1ill-"hat are the di'ettt types oftcrm life insin'snce polivzziol'iI (I5 marks) {:1} Where can Kitty buy a life insurance policy? {I5 marks)