Question: Using the Desired Income method, how much insurance would be needed if you want to provide your survivors with a real annual income of $75,000

Using the "Desired Income" method, how much insurance would be needed if you want to provide your survivors with a real annual income of $75,000 at the beginning of each year? (Assume a before-tax rate of return of 8%, a marginal tax rate of 22%, and annual inflation rate of 3% per year.) (Round final rate of return to 3 non-zero decimal places)

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