Question $1$

You are creating a new meal$-$prep delivery service and will be using a mix of traditional marketing and

digital marketing campaigns. In the first year, you decide to spend $$550k$ in print advertisements and

$$1\mathrm{.}15$M in social media promotions and SEO digital strategies. You also have a dedicated sales and

marketing team that is $100\%$ focused on customer acquisition. There are $4$ people in this group with

an average annual salary of $$125k$ each. How much is the first$-$year CAC if the company was able to

get $275,000$ new subscribers. Round to the nearest dollar.