Hello, thank you for your message! After some thought and looking around in textbooks etc. I believe that by using Emf_{induced} = -N\frac{\Delta \Phi}{\Delta t} I have calculated the Emf to be -1\frac{0 - (8.54\text{ x }10^{-4})}{0.5} = 1.708 \text{ x } 10^{-3} \text{ V}
I hope this is...