Dietz owned a delivery van with a book value of $2,000 (old van). It traded this old van in on a new one which cost $16,000 (Price=cost of the new van). The dealer allowed Dietz a trade-in allowance of $3,500 on the old van, and Dietz paid the remainder in cash. Compute the following: (10 points) 

i) The amount of cash Dietz must pay to purchase the new van.