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Six years ago, Vance Refrigeration paid $2,000,000 for a new piece of equipment. Six months, they spend $60,000 to repair the machine. The equipment has

Six years ago, Vance Refrigeration paid $2,000,000 for a new piece of equipment. Six months, they spend $60,000 to repair the machine. The equipment has been sitting (unused) in a storage area for the last 2 months. The current estimated market value of the equipment is $365,000. Vance is considering using this machine in a new project. What value should be assigned to this machine when evaluating this project?

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