A 12-year bond with a face value of 1000 dollars is redeemable at par, pays coupons at 5 percent per 6 months, and has a yield rate of 7.8 percent convertible semiannually. Suppose the book value immediately after the payment of the 8th coupon is equal to the price of a perpetuity (at the time of the 8th coupon) that will start making annual payments one year after the 8th coupon. If the perpetuity earns interest at 4 percent effective, how large is each perpetuity payment?