Yesterday, Apple updated its online store to include a new entry-level iMac priced at $1,099, $200 down from the previous entry-level model, which is still available starting at $1,299.

The new 21.5-inch iMac configuration is available with a 1.4GHz duel-core Intel i5 processor, 8GB of memory, a 500GB hard drive, and an Intel HD 5000 Graphics card. The computer can be built-to-order with an upgraded 1TB ATA drive, 1TB Fusion Drive, or a 256GB flash drive.

The physical design of the iMac did not change with this latest addition to the line. All current-generation iMacs come with an Apple Magic Mouse and Wireless Keyboard, as well as OS X Mavericks and a plethora of built-in apps like iTunes, Maps and Pages.

A “low-cost” iMac has been rumored for release since last year. It has also been predicted that next-generation iMacs will come equipped with Retina Displays, in which case the standard models may decrease in cost even further. 

An announcement date for the rumored Retina iMacs is still unconfirmed; however, some sources suggest a release later this year, possibly alongside the iPhone 6 and iWatch.

Apple’s new iMacs can be purchased online on Apple’s online store, or at any Apple retail store or authorized Apple retailer.