You Are Considering a Project That Has Been Assigned a Discount

You are considering a project that has been assigned a discount rate of 8 percent.If you start the project today,you will incur an initial cost of $480 and will receive cash inflows of $350 a year for three years.If you wait one year to start the project,the initial cost will rise to $520 and the cash flows will increase to $385 a year for three years.What is the value of the option to wait?

A) $15.23
B) $17.08
C) $18.67
D) $20.20
E) $50.20