You have recently been asked by your boss to come up with an estimate of customer lifetime value for your firm's typical customer. Your firm sells high-end road and mountain bikes and related accessories. Customer contact is primarily on-line, through catalogs, targeted mailings, targeted e-mails and the occasional telephone call. After some digging around, and asking a lot of questions, you've been able to assemble the following information for a typical customer: Average order: $501 Frequency of orders: 1.3 /year Average margin: 58% markup on retail Customer retention rate: 73% Promotional/communication costs/yr $32 Your discount rate: 8% Customer acquisition cost $336 Calculate the expected customer lifetime value for a new cutomer, rounded to the nearest dollar