Consider the following data: (Click the icon to view the data.) Requirement Compute the customer lifetime value for Customer 421 based on the data above for the first six years of the customer relationship. Costs (Ct) were incurred to promote customer retention to a rate of 0.9 in years 1 through 6. Begin by determining the general formula for calculating customer lifetime value (CLV). (Abbreviation not already defined: Cost of capital = i) F" (Mt – C4) * (retention rate) - 1 CLV= Σ (1 + i)" - Initial acquisition cost t= 1 Next calculate the discounted net cash flows for each year and in total. (Round all amounts in your calculation to four decimal places, X.XXXX.) Discounted Requirement Compute the customer lifetime value for Customer 421 based on the data above for the first six years of the customer relationship. Costs (Ct) were incurred to promote customer retention to a rate of 0.9 in years 1 through 6. Next calculate the discounted net cash flows for each year and in total. (Round all amounts in your calculation to four decimal places, X.XXXX.) Discounted t net cash flows 1 2 3 4 5 6 Total Х Data table Customer 421 $800 6 0.9 0.1 Initial acquisition cost n = number of years retained r = retention rate for each of the n years retained Cost of capital Mt = margin from customer in year t M M2 $270 320 M3 345 370 M4 M5 ME 395 CA 430 90 80 C2 C3 80 CA 80 СЫ 70 C6 70