Assume Gold's Gym permits customers to sign up for annual contracts or for month to month contracts. Annual memberships are paid once per year; month to month are paid monthly.

Assume Gold's Gym reviewed its sales records for the annual contract customers and learned:

Average purchase per customer per year $$900$

Average contribution margin $25\%$

Retention rate $30\%$

Cost of capital $10\%$

What is the average customer life time value for a prospective annual contract customer customer $($in other words, the customer has NOT yet made a first purchase$)$

$[$ Select $]$

$?$

Advanced: Same facts. But now assume we are projecting future lifetime value for customers who have already been with Gold's Gym for a few months. What's the CLV for those customers

$[$ Select $]$

$?$