Price Aladdin bought a machine for use in his business on $1$ November $2004.$ He gave the supplier a cheque for $$11,570$ and traded in an old machine. The supplier allowed him $$4,430($Trade in value$)$ in part exchange for the old machine. Price Aladdin depreciates machinery on the reducing balance basis at a rate of $20\%$ per annum. The old machine had cost $$12,000$ and had been $($Accumulated depreciation$)$ by $$5,856.$What is the profit or loss on the trade in of the old machine?