The Gotham City News is moving to a paywall subscription service rather than a free news website with unlimited access. If subscribers would like to access more than ten articles per month, they will need to pay a monthly subscription fee of$22. However, if they are also weekly subscribers of the print edition of the newspaper, they receive a60%discount on the on-line subscription rate. The monthly rate for the print edition of the newspaper is$28. Based on market research, the Times believes that24%of the households that order the print edition will also order the website subscription. While there are basically no variable costs to the website version, the print edition does cost$23per month to print and deliver to households.

If marketing research indicates that an average print only subscriber will only continue their subscription for 24 months if they don't also purchase the digital edition, what is the 3 year CLV of a current print edition customer taking into consideration those that will choose print only (who drop after 24 months) and those that choose to add the digital edition (who drop the print only after 16 months)?

Can you please help answer the question in bold and also show detailed work on how you arrived to the final answer? Thank you.