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Holden Australia has a business tie with JSW Steel. through which Holden pays in Indian Rupee for steel it purchases from JWS. During 2016, when

Holden Australia has a business tie with JSW Steel. through which Holden pays in Indian Rupee for steel it purchases from JWS. During 2016, when AUD depreciated against all major currencies, Holden managers decided to make a risk sharing agreement with JWS to reduce their exposures to cash flow volatilities in the future. The agreement states that Holden will pay the spot rate as long as it is between INR65/AUD and INR85/AUD, and will share the risk of exchange rate equally with JWS if it falls outside this range. The agreement was incepted at Jan 2017 and lasts for 1 year. Holden imports 9213 tons of steel each month and must pay the invoice after a month. What would be the dollar cost of import for Holden if exchange rate changes to INR55/AUD after 6 month and steel price remains at 8107 Rupee per ton.(answer in two decimals, no dollar sign, no comma separator)

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