Assume the annual profit from a credit-card customer in year 1 is $155, year 2 is $155, year 3 is $155, year 4 is $155, year 5 is $155, year 6 is $200 and year 7 is $250.

Each year there is a 40% chance of losing the customer and the discount rate is 15%. It costs $250 to acquire the customer.

What is the Customer Lifetime Value of this customer for the first 6 years?

If possible, is it alright if you show show me how to do it on excel and by hand?