Joetta Hernandez is a single parent with two children and earns $42,300 a year. Heremployer's group life insurance policy would pay 2.5 times her salary. She also has $56,400 saved in a401(k) plan, $4,700 in mutualfunds, and a $2,820 certificate of deposit. She wants to purchase term life insurance for 15years, until her youngest child isself-supporting. She is not concerned about her outstandingmortgage, as the children would live with her sister in the event ofJoetta's death. Assuming she can receive a 5 percentafter-tax, after-inflation return on insuranceproceeds, use the earnings multiple method to calculate her insurance need. How much more insurance does Joetta need tobuy? What other information would you need to know to use the needs approach to calculateJoetta's insurancecoverage? Assuming she can receive a 5 percentafter-tax, after-inflation return on insurance proceeds and using the earnings multiplemethod, Joetta's insurance need is $ enter your response here. (Round to the nearestdollar