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 $3,450 and will receive cash inflows of $2,070 a year for 2 years. If you wait one year to start the project, the initial cost will rise to $3,670 and the cash flows will increase to $2,459 a year for 2 years. What is the value of the option to wait? (Do not round intermediate calculations.)

A) $1,469.20

B) $546.43

C) $445.74

D) $499.90

E) $591.18