Calculate the insurnace needs for Patrick Gallagher based the following infomration: Patrick is a divorced male, 30-years old, with no dependents. Bought a condo 3 years ago with a initial mortgage of $300,000 at a fixed rate of 5.40% over 15 years. Parick does not support his ex-wife financially but may bequeath her the condo. Funeral Costs Uninsured Medical Bills $25,000.00 Checking and Savings $15,000.00 $10,500.00 Mutual Funds and Securities $65,000.00 Probate Costs Federal Estate Taxes State Inheritance Taxes $7,500.00 IRA $15,000.00 $0.00 401K $50,000.00 $0.00 Current Life Insurance $50,000.00 Reajustment Period $0.00 Dependency Period $0.00 Remaining balance on mortgage N 144 I/Y 0.450% PV PMT ($2,435.36)