If marketing research indicates that an average print only subscriber will only continue their subscription for 24 months if they don't also purchase the digital edition, what is the 3 year CLV of a current print edition customer taking into consideration those that will choose print only (who drop after 24 months) and those that choose to add the digital edition (who drop the print only after 16 months)?

Mikkelson corporation's stock had a required return of 12.50% last year, when the risk-free rate was 3% and the market risk premium was 4.75%. then an increase in investor risk aversion caused the market risk premium to rise by 2%. the risk-free rate and the firm's beta remain unchanged. what is the company's new required rate of return? (hint: first calculate the beta, then find the required return.) do not round your intermediate calculations.