Wii-Work is having an incredible deal where they will defer the first years rent of new commercial tenants to the end of the year instead of the beginning of the year. The bank pays 2% interest on deposits. The annual rent of $12,000 is normally due at the beginning of the year rather than the end. To the Wii-Works tenant, what is the NPV of getting to defer the first years rent for one year?

Group of answer choices

$220

$480

$373

$235

$110