You are considering a project that has been assigned a discount rate of 8 percent. If you start the project today (t=0), you will incur an initial cost of $980 and will receive cash inflows of $475 a year for three years. If you wait one year to start the project, the initial cost will rise to $1,000 (at t=1) and the cash flows will increase to $515 a year for three years (starting from year t=2). Should you wait one year to start the project?

No, because NPV at t=0 is lower by $31.58

No, because NPV at t=0 is lower by $25.42

Yes, because NPV at t=0 is higher by $58.85

Yes, because NPV at t=0 is higher by $37.45

Yes, because NPV at t=0 is higher by $18.66