You can use the expansion of the observable with parentheses, for example:
var underlyingValue = item();
or, if you are not sure if the variable is observable, you can use this method:
var underlyingValue = ko.utils.unwrapObservable(item);
which basically checks if the variable is observable or not, and if it is, it does it first using parentheses.
When you have a base value, you can do what you usually do.
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