The Greensleeves Garden Equipment Company sells and services lawnmowers. The service department manager has determined...
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The Greensleeves Garden Equipment Company sells and services lawnmowers. The service department manager has determined that the average lawnmower purchaser brings the lawnmower in for service once a year, at the beginning of the mowing season, for 5 years. Greensleeves charges $80 for the annual tuneup, which costs Greensleeves $25 in parts and labor to perform. Estimate the CLV of the service component of a lawnmower purchaser, using the average number of payments approach.
Please show the work as Im trying to learn the concept
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