Heel & Sole, Inc., is considering the purchase of a new leather$-$cutting machine to replace an existing machine that has a book value of $$3,000$ and can be sold for $$1,500.$ The estimated salvage value of the old machine in $4$ years is zero. The new machine will reduce costs $($before tax$)$ by $$7,000$ per year; that is$,$ $$7,000$ cash savings over the old machine. The new machine has a $4-$year life, costs $$14,000,$ and can be sold for an expected $$2,000$ at the end of the fourth year $($it will be depreciated to a book value of $$2,000).$ Assuming straight$-$line depreciation for both machines, a $34\%$ tax rate, and a cost of capital of $12\%,$ find the NPV of this replacement decision.