It is either working or not. Is there a battery in it? If there is a battery in it, the test is to replace it. Find a store that specializes in battery sales (I will not recommend any particular company), have them put the right battery in and see if it works. If it does, buy the battery and you are off to the races.
Now, I will tell you my personal experience with UPS's.... I have scrapped quite a few. You can give the $200 thing and try to sell. Best of luck to you. My thoughts are this, I scrap them all except for massive ones I find. The large amphours ones I get I buy a battery (usually < $40) which is way cheaper than buying new UPS. I use them to run my computer and audio video equipment. I live in Florida and we have a lot of droppage and brown outs as well as spikes due to lightning. The battery backup will smooth the current and theoretically help extend the life of the equipment. It will also allow you to finish work or not have to go through the whole reset thing as you are watching your favorite Star Trek episode. If you decide to scrap, they have a battery and a coil as well as some brass contact bands for the outlets as well as some wiring (ICW). I buy mine at garage sales for $1. I would not recommend paying much for a dead UPS.
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