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In order to expand the existing TATA steel plant at Jamshedpur, TATA STEEL LTD. issued 1000 (thousand) rupees face value bond with 10 percent coupon

In order to expand the existing TATA steel plant at Jamshedpur, TATA STEEL LTD. issued 1000 (thousand) rupees face value bond with 10 percent coupon rate (coupons paid semiannually) with a 10 years maturity and required rate of return on the bond is 12 percent. Find out the present value of the bond using the continuous compounding method. Numbers should be rounded to two decimals.

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