A milling machine with enhanced CNC controls that allow for high speed machining of free-form parts was purchased 2 years ago for $195,000. The company wants to purchase a recently available faster model with control up to 8 axes for $240,000. The presently owned machine can be sold today for $105,000. Its operating cost over the past 2 years has been $30,000 per year. The value that should be used as P for the presently owned machine is:

(a) $240,000

(b) $195,000

(c) $105,000

(d) $30,000