Consider a telecommunication service provider. You have the following quarterly data: STATISTICS TYPICAL CONSUMER Number of referrals per period (n=nl+ n2) 5 of which, customers that joined due to the referral (nl) 3 N 2 of which, customers that would have joined anyway (n2) Marketing cost per period (Mty) S30 Average gross margin (Aty) $78 Cost of referral (aty) $15 Acquisition cost savings (ACQlty and ACQ2ty) $10 Yearly discount rate (r) 15% Calculate CRV of a typical customer for one year (over 4 quarters)