Question: Look again at the malted herring example in Section 22.3. Suppose that by postponing the project for a year, you do not miss out on

Look again at the malted herring example in Section 22.3. Suppose that by postponing the project for a year, you do not miss out on any cash flows. Instead all cash flows are simply delayed by one year. What is the value of the option to invest in the malted herring plant?

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