The Rumpel Felt Company purchased a felt press last year at a cost of $$15,000.$ The machine had an expected life of $3$ years at the time of purchase. Its book value now is $$12,000.$ The division manager reports that, for $$12,000($including installation$),$ a new felt press can be bought. Both machines are $5-$year property with depreciation rates of $20\%,32\%,$ and $19\mathrm{.}2\%$ in the first three years. The new felt press will expand sales because the new fashion is for smoother felt. The old machine's current market value is $$10,000.$ The new machine requires an increase in felt inventory of $$3,000.$ Taxes are $40\%.$

What is the initial cash flow $($on the date of replacement$)$ if Rumpel replaces it today? $($Round your answer to the nearest dollar.$)$

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