An event management company is planning to launch a large, 5-year international trade show project (i.e., Year 1 to Year 5) that is expected to generate revenues through two major streams. They expect to generate its main revenue with ticket sales, priced at $25 per person to the 3-day event. Another stream of revenue will be from sales of trade show goods and food which is expected to be on average $15 per person.

The company expects that various promotional and administrative costs will be approximately $8 per person. No other costs are considered.

Typically, the event management company retains on average 60% of the trade show visitors in a given year. The company is also capable of obtaining a financial discount rate of 8%.

Based on this information, what is the CLV per customer? (Round up to 2 decimal points)