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 $619,000 . The company also spent $82,000 to update its operating software. The equipment recieved a recent market bid from an interested buyer of $762,000. The current book value of $553,000. 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 ?

$762,000

$619,000

$553,000 $701,000