Grantham Inc. is planning a transaction that will generate $240,000 of taxable income and cash inflow. The transaction is structured so that Grantham will receive the cash and report the income this year (year 0). Compute the increase in the NPV of the transaction if it can be restructured so that Grantham will receive the cash this year, but report the income two years later (year 2). Grantham's marginal tax rate is 35%, and it uses a 7% discount rate to compute NPV.

$10,920

$10,668

$9,130

None of the above