A firm purchased a building for $700,000 and made repairs costing $68,700. The annual taxes on the property are $12,600. The building has a current market value of $980,000 and a current book value of $242,000. The building is mortgage-free. If the company decides to use this building for a new project, what value, if any, should be included in the initial cash flow of the project related to this building?
Multiple Choice
$280,000
$242,000
$700,000
$980,000
$310,700