Question: Andrew, who is married and the father of one, is 23 years old and expects to work until 68. He earns $67,500 per year. Andrew

Andrew, who is married and the father of one, is 23 years old and expects to work until 68. He earns $67,500 per year. Andrew expects inflation to be 3% over his working life, and the appropriate risk-free discount rate is 5%. His personal consumption is equal to 25% of her after-tax earnings, and her combined federal and state marginal tax bracket is 15%. What is the amount of life insurance necessary for Andrew using the Human Life Value method?

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