You are considering a project which has been assigned a discount rate of 14%. If you start the project today, you will incur an initial cost of $1200 and will receive cash inflows of $600 a year for 3 years. If you wait 1 year to start the project the initial cost will rise to $1250 and the cashflows will increase to $645 a year for 3 years. What is the value of the option to wait?

A. $10.16

B. $14.87

C. $24.08

D. $27.03