Problem on Bonds

Due to a number of lawsuits related to toxic wastes, a major chemical company has recently experienced a market revaluation. The firm has bonds outstanding that were issued 10 years ago at their par value of Php1,000. These bonds have 15 years to maturity and a coupon rate of 8 percent, with interest paid semiannually. The required return on these bonds has increased to 16 percent. What is the current value of one of these bonds?