Question: PLEASE EXPLAIN WITH FORMULAS, TRYING TO LEARN THE CONCEPTS. THANK YOU. Blooms, Etc. has a plant-of-the-season club. The club member receives a plant at the

PLEASE EXPLAIN WITH FORMULAS, TRYING TO LEARN THE CONCEPTS. THANK YOU.

PLEASE EXPLAIN WITH FORMULAS, TRYING TO LEARN THE

Blooms, Etc. has a plant-of-the-season club. The club member receives a plant at the beginning of each new season, i.e., four times a year, at a discounted price. The annual membership fee is charged on a quarterly basis and Blooms' net (revenues minus variable costs) is $37 per quarter. The annual retention rate is 58%, and the annual discount rate is 17%. Calculate the CLV of an existing club member. Assume end-of-period payments for simplicity. I D 0.00 Number (US)

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