The new proposed project needs to use an expensive medical equipment that is already owned by the company. The purchase price of this equipment is $691,000 . The company also spent $70,000 to update its operating software. The equipment recieved a recent market bid from an interested buyer of $772,000. The current book value of $563,000. If the company decides to use this equipment for the new project , what value should we use for this equipment to be included in the initial cash flow of the project ?

$772,000

$691,000

$563,000

$761,000