Colcord Industries is replacing an old mixing machine. The old machine has a book value (BV) of $3,000 and Colcord has someone willing to buy it for $2,438. The new machine costs $20,000 and will be straight line depreciated over its 7-year life. The new machine will also immediately decrease inventory by $800. Colcords tax rate is 31%. What is the total initial (t=0) cash flow for the replacement decision?