Use the fact pattern below for Questions 17, 18, and 19. Alexa is a 33-year-old accountant who earns $80,000 per year. She is married and has 4 children. She expects her salary to increase at an annual rate of 5% until her retirement at age 69 and anticipates that inflation will average 3% per year. During this time period, you expect the risk free rate to be 4%. Alexa and her husband's income places them in the 25% average tax bracket (including state and federal), and she uses 20% of her after-tax income for personal consumption. Alexa wants to replace her income for the remainder of her working years, and she would like to have an extra $50,000 for each child's college expenses. Additionally, Alexa would like to eliminate all the debt they currently have ($650,000). Alexa expects that her final expenses will be around $30,000 and that her husband and kids will need 6 months to readjust. Her husband earns $55,000/ year after taxes. Assume that in the event she were to die there are no other sources of income. 17. (3 points) Using the fact pattern above, use the Capitalized-Earnings Approach to determine how much life insurance Alexa should purchase. 1 18. (7 points) Using the fact pattern above, use the Human-Life Value Approach to determine how much life insurance should Alexa purchase for herself. 19. (10 points) Using the fact pattern above, use the Needs Approach to determine how much life insurance Alexa should purchase