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Estimate the value of a loyal customer of a loyal Volvo automobile owner. Assume the contribution margin is 0.34, the purchase price is $64,000, the

Estimate the value of a loyal customer of a loyal Volvo automobile owner. Assume the contribution margin is 0.34, the purchase price is $64,000, the repurchase frequency is every five years, and the customer defection rate is 30 percent. Do not round intermediate calculations. Round your answer to the nearest dollar.

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