IBM Think Pad I Series 1400

I am not sure if this post is in the right area, my advanced apologies if it is not.
MODS: Please move if necessary.

I am contemplating buying an old laptop from a friend. Here are the specs:
IBM Think Pad I Series 1400
Black case with built-in side-screen speakers
14 inch screen
Windows 98 - 2nd edition
Pentium II Processor
192 MB RAM
2 Hard Drives - 20 GB and 40 GB
CD-ROM with DVD player
Microsoft Office 2000
Adobe Photo - Business Edition 1.0

What would be a fair price to pay for this computer?