5. CALCULATE a CLV for the Chase Reserve card at 50,000 bonus points for two years with a $500 annual fee. Assume the conversation rate for bonus points is 100 pts = $1. Assume the additional acquisition cost is 2% of the monthly balance for the first year. Assume 50% of credit card holders are "revolvers." Assume the average balance for "revolvers" is $10,000, and the average percentage rate charged is 20%. Assume the retention rate is 50%. (Don't factor in a discount rate or intercharge fee.) SHOW your work on a table. Then RE-CALCULATE a CLV; this time assume the average interest rate charged is 10%, which presumably would raise the average balance $20,000, and the average retention rate to 75%. Again, SHOW your work on a table. Now, (1) given the choice between those two options (lower vs higher interest rate), which option would your choose? Why? And, based on your analysis, (2) name three things Chase could you do to make Reserve customers more profitable? (20 points)