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You run a health club and want to estimate the lifetime customer value of your clients. You estimate that your typical customer spends $44 per

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You run a health club and want to estimate the lifetime customer value of your clients. You estimate that your typical customer spends $44 per month, which is composed of membership fees, group classes and personal training. The average gross margin for these services is 54%. The retention rate for clients is estimated to be 70%. The health club uses a discount rate of 5% in evaluating investments. What is the current Lifetime Customer Value for health club members

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