"richard, age 45, is married with two children in high school. he estimates that his average annual earnings over the next 20 years will be $60,000. he estimates that one third of his average annual earnings will be used to pay taxes, insurance premiums, and the costs of self-maintenance. the remainder will be used to support his family. richard wants to calculate his human life value and believes a 6 percent discount rate is appropriate. the present value of $1 payable for 20 years at a discount rate of 6 percent is $11.47. calculate richard’s human life value."