Consider that Chris wants to evaluate a Defer option. That is, she could apply for the license first and then decide whether to launch the service. If she decides to apply and the license is awarded, she has the option to launch or not to launch the service. If she launches the service, it will cost her $70,000, and her business will be worth $120,000 with the license. If her license application is rejected or she decides not to launch the service after approval, the business will still be worth $10,000 as she continues to operate in the county (ignore the switch option). The license application costs $10,000, and she has a 50-50 chance to obtain the license. What is the value of the Defer option to Chris? (Provide your answer in thousand dollars, no decimals, and coma, e.g., 12000)