Wilson's Antiques is considering a project with an initial cost today of $4,000. The project has a life of 2 years with cash inflows of $6,750 a year. Should the firm decide to wait one year to commence this project, the initial cost will increase by 6 percent, and the cash inflows will increase to $7,100 a year. What is the value of the option to wait at a discount rate of 4 percent?

Note: Round answers to zero decimal places (whole dollars). Enter numbers only-- do not use a dollar sign ($).