Bellas Bone Emporium, Inc. is considering a project with an initial cost today of $10,000. The project has a life of 2 years with cash inflows of $6,500 a year. If Bella were to decide to wait one year to commence this project, the initial cost would increase by 5 percent, and the cash inflows will increase to $7,500 a year. What is the value of the option to wait at a discount rate of 10 percent?