Assume that a customer shops at a local grocery store spending an average of$350a week, resulting in a retailer profit of$25each week from this customer. Assuming the shopper visits the store all 52 weeks of the year, calculate the customer lifetime value if this shopper remains loyal over a 10-year life span.Also assume a3percent annual interest rate and no initial cost to acquire the customer.

The customer yields $per year in profits for this retailer. (Round to the nearest dollar.)

The customer lifetime value is$ (Round to the nearest dollar.)