Kelly, age 35, is a single parent and has a 1-year-old son. She earns $100,000 annually as a marketing analyst. Kelly has total $50,000 in her checking and saving account. Her employer provides group life insurance in the amount of twice the employee's salary. Kelly also participates in her employer's retirement plan (with the current value of $35,000). She has the following financial needs and objectives: Funeral costs and uninsured medical bills $10,000 Income support for her son $2,500 monthly for 17 years Pay off mortgage on home $150,000 Pay off car loan $15,000 College education fund for son $150,000 . . . . a) Ignoring the availability of Social Security survivor benefits, how much additional life insurance, if any, should Kelly purchase to meet her financial goals based on the needs approach? (Assume that the rate of return earned on the policy proceeds is equal to the rate of inflation.) b) How much additional life insurance, if any, is needed if estimated Social Security survivor benefits in the amount of $1000 monthly are payable until her son attains age 18?