PLEASE EXPLAIN WITH FORMULAS, TRYING TO LEARN THE CONCEPTS. THANK YOU.

Club Fitness is open from 5 A.M. until 9 P.M. Monday through Saturday. The gym is closed on Sundays and holidays. Hank Hunkley, the owner, is considering offering 24-hour, 7-day-a-week, 365-days-a year access for an additional $57 a year per member. In exchange for the extra fee, the member would receive a magnetic fob that will unlock the door when the facility is closed. Each fob would cost Hank $5. Based on a survey taken of his 990 current members, Hank estimates that 43% of them will buy the fob to allow extended hours access. What is the total CLV associated with the 24/7/365 access plan for the current membership if the costs for personnel and equipment for the program are $9,616 annually? Currency (US)