Assume the same information as BED-13 except that the discount rate is 12% instead of 10%. In this case, how much can Hanna expect to receive from the sale of these bonds?

Data From BED-13:

Hanna Railroad Co. is about to issue $300,000 of 10-year bonds paying an 11% interest rate, with interest payable semiannually. The discount rate for such securities is 10%. How much can Hanna expect to receive for the sale of these bonds?