You are considering a project that has been assigned a discount rate of $9$ percent. If you start the project today $($t$=0),$ you will incur an initial cost of $$1,200$ and will receive cash inflows of $$510$ a year for three years $($starting from year $1).$ If you wait one year to start the project, the initial cost will rise to $$1,220($at t$=1)$ and the cash flows will increase to $$580$ a year for three years $($starting from year t$=2).$ Should you wait one year to start the project? $($Hint: calculate and compare the NPV of the project if it is started today vs$.$ started one year from today. Do not forget the time value of money$)$

No$,$ because NPV is lower by $$92\mathrm{.}50$

No$,$ because NPV is lower by $$114\mathrm{.}30$

Yes, because NPV is higher by $$122\mathrm{.}80$

Yes, because NPV is higher by $$136\mathrm{.}70$

Yes, because NPV is higher by $$152\mathrm{.}40$