Volume of a Cone with Cylindrical Hole

Consider a right circular cone with a height of 12 cm and a base radius of 5 cm. A cylindrical hole with a height of 8 cm and a radius of 3 cm is drilled vertically through its center. Calculate the volume of the remaining solid after the cylindrical hole has been drilled out.

Use the formula for the volume of a cone, which is given by: $$ V = \f\frac{1}{3} \pi r^2 h $$ and the formula for the volume of a cylinder, which is given by: $$ V = \pi r^2 h $$.