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 $601,000 . The company also spent $145,000 to update its operating software. The equipment recieved a recent market bid from an interested buyer of $754,000. The current book value of $556,000. 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 ?

$754,000

$601,000

$556,000

$746,000