Owen settled on a price of $7,870 for a new car. The dealer had to add 4.5% sales tax to this price, but allowed a $1,200 trade-in for Owen's old car. Although not a universal practice, please add the sales tax to the price of the new car first and then deduct the trade- in value. If the dealer required a 15% down payment, calculate the amount of the purchase price that Owen financed.