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You are considering a project which has been assigned a discount rate of 6 percent. If you start the project today, you will incur an

You are considering a project which has been assigned a discount rate of 6 percent. If you start the project today, you will incur an initial cost of $3,500 and will receive cash inflows of $2,100 a year for 2 years. If you wait one year to start the project, the initial cost will rise to $3,740 and the cash flows will increase to $2,506 a year for 2 years. What is the value of the option to wait

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