I had some issues figuring out how to do this problem by hand, and I was hoping to see the problem worked out so I know how to do it for future reference. Thank you.

Excel Online Activity: VLC Assume that a customer in the small contractor target market segment buys an electric drill on average every five years (or every 0.2 year) for $200, when the gross margin on the drill averages 40 percent. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet Questions 1. What is the value of a loyal customer (VLC) if the customer retention rate is 60 percent? Round your answer to the nearest cent. $ 2. What is the value of a loyal customer (VLC) if the customer retention rate increases to 80 percent? Round your answer to the nearest cent. $ 3. What is a 1 percent change in market share worth to the manufacturer if it represents 50,000 customers? Round your answers to the nearest dollar. 60 percent customer retention rate case: 5 80 percent customer retention rate case: 5 4. What do you conclude? If customer retention can be increased from 60 to 80 percent through better value chain performance, the economic payoff is Excel Online Activity: VLC Assume that a customer in the small contractor target market segment buys an electric drill on average every five years (or every 0.2 year) for $200, when the gross margin on the drill averages 40 percent. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet Questions 1. What is the value of a loyal customer (VLC) if the customer retention rate is 60 percent? Round your answer to the nearest cent. $ 2. What is the value of a loyal customer (VLC) if the customer retention rate increases to 80 percent? Round your answer to the nearest cent. $ 3. What is a 1 percent change in market share worth to the manufacturer if it represents 50,000 customers? Round your answers to the nearest dollar. 60 percent customer retention rate case: 5 80 percent customer retention rate case: 5 4. What do you conclude? If customer retention can be increased from 60 to 80 percent through better value chain performance, the economic payoff is