Robinsons, an electrical supply company, sold $4,200 of equipment to Jim Coates Wiring, Inc. Coates signed a promissory note on May 12 with 4.2% interest. The due date was August 10. Short of funds, Robinsons contacted Capital One Bank on July 20; the bank agreed to take over the note at a 5.9% discount.

What proceeds will Robinsons receive? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.)