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2 Question 3 (advanced) One of the recurring questions Jorgensten faces is What is the return on investment of the loyalty program? Using the second

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2 Question 3 (advanced) One of the recurring questions Jorgensten faces is "What is the return on investment of the loyalty program?" Using the second spreadsheet as a benchmark ("No Loyalty Program"), what answer (or answers) would you give to that question? Notice that your answer might vary, depending on the time horizon taken into account. Use a 15% discount rate, and explain your choices

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