In the year $2005$, the cost of a shell and tube heat exchanger with $68\:m^{2}$ heat transfer area was $Rs.\:12.6$ Lakh. Chemical Engineering Index for cost in $2005$ was $509.4$ and now the index is $575.4$. Based on index of $0.6$ for capacity scaling, the present cost (in Lakhs of rupees) of a similar heat exchanger having $100\:m^{2}$ heat transfer area is estimated to be

1. $17.94$
2. $19.94$
3. $20.94$
4. $22.94$