Stars Company received a non-interest bearing promissory note of QAR 20500 for 20 months from its customer. After 3 months, Union Bank discounted the note (before maturity) when the money was worth 1.60%. Calculate the present value of this note. Answers should be rounded to 2 digits after the decimal point.

I used the formula P=S/(1+rt) to find the present value and got 20045.63, a double-check would be appreciated