calculate maximum price an investor should pay for bond

Q2. Mr. Natrajan is Vice President of Metal Works Inc. The company is considering issuing bonds to satisfy part of its financing need for a new venture of Steel Plant, which is going to be launched in Mid-Western Region of India. He knows that in the current economic scenario the Indian Financial Market is sensitive to the price and terms and condition of bond issue. The company is thinking of inviting applications for issue of bonds of the face value of Rs. 1000 redeemable after a period of 8 years at 20% premium, with variable coupon rates as; 10% for first three years; 9% for next three years and 11% for remaining two years. Determine the maximum price an intending investor , expecting a return of 11% p.a. , should pay for this bond