Magazine use (another how much Q)

I just received a request for a company to use one of my photos in a full page of their magazine. There will be 12,000 copies made. I have never sold to a magazine before, and only sold to individuals. I honestly have no idea what rate I should ask. I also assume I will allow them full rights to the photo (not giving up my rights). What do you all recommend for this situation?

I did something similar last year (sold an image to a major passenger railway company here in Canada).

First rule: don't give full rights (i.e the right to use the photo in any capacity at any time). Give two options:

a. One time use in this publication for $X
b. Use in perpetuity in this publication only, for say 1.5 times $X

99 times out of 100, they will pick the second option, even if they will never use the image again.

For a publication of that size, I'd say $2-300 is reasonable.

Oh, and make sure you include that all uses must be accompanied by a photo credit.

I plan on getting my credit!

Thanks for the suggestions, Do I need to send them a signed release of some sort?