IMP Corp. is considering a new product that would require an investment of 2300 now, at t=0. If the new product is well received, then the project would produce after-tax cash flows of $23,000 at the end of the next year (t = 1), but if the market did not like the product, then the cash flows would be only $123,000. There is a 34% probability that the market will be good. The firm could delay the project for a year while it conducts a test to determine if demand is likely to be strong or weak. The project's cost and expected annual cash flows would be the same whether the project is delayed or not. The project's WACC is 23.0%.