Table:
|  | July 31, 2019 | July 31, 2018 |
| --- | --- | --- |
| Prepaid expenses | $2,640 | $2,476 |
| Contract costs | 23,375 | — |
| Deferred costs | 8,867 | 9,377 |
| Strategic investments | 10,672 | 10,672 |
| Other assets | $45,554 | 22,525 |
Paragraphs:
Other Assets
Other assets consist of the following (in thousands):
The Company’s other assets includes a strategic equity investment in a privately-held company. The strategic investment is a non-marketable equity security, in which the Company does not have a controlling interest or the ability to exert significant influence. This investment does not have a readily determinable market value. The Company records this strategic investment at cost less impairment and adjusts cost for subsequent observable price changes. During the years ended July 31, 2019 and 2018, there were no changes in the investment’s carrying value of $10.7 million.
Question:
What was the change in the Deferred costs from 2018 to 2019?
Answer: 8867 - 9377 = -510