If you start the project today, you will incur an initial cost of $8,352 and will receive cash inflows of $5,573 a year for two years. If you wait one year to start the project, the initial cost will rise to $9,465 and the cash flows will increase to $5,838 a year for two years. What is the value of the option to wait if the discount rate is 12%? (Round answer to 2 decimal places, do not round intermediate calculations)