Q$4$: Assume that Shannon's decides to move forward with its

loyalty$/$rewards program. Estimates for the cost per customer is

$$4\mathrm{.}72$ per month. Average customer margins, before

subtracting off the cost of the loyalty$/$rewards program, are

expected to be $33\mathrm{.}17.$ Assuming that Shannon's wishes to

obtain a minimum CLV of $$120,$ what is the required retention

rate that must be achieved? Assume that the interest rate is $1\%$

per month. $($Note: This problem assumes that you employ some

algebra to solve the CLV formula for $r.)$ Express your answer to

four decimal places e$.$g$.\mathrm{.}1234.$ Do not express in percent form.