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: $ $514$

Frequency of orders: $1\mathrm{.}4/$year

Average margin: $60\%$ markup on retail

Customer retention rate: $68\%$

Promotional$/$communication costs$/$yr $ $28$

Your discount rate: $11\%$

Customer acquisition cost $ $405$

Calculate the expected customer lifetime value for a new cutomer, rounded to the nearest dollar.