Claude Scales, a commercial fisherman, bought a new navigation system for $10,000 from Coast Marine Electronics on March 20. He paid $2000 in cash and signed a conditional sale contract requiring a payment on July 1 of $3000 plus interest on the $3000 at a rate of 8%, and another payment on September 1 of $5000 plus interest on the $5000 at 8% from the date of the sale. Coast Marine immediately sold the contract to a finance company, which dis-counted the payments at its required return of 12%. What proceeds did Coast Marine receive from the sale of the contract?