Suppose your company has just issued a $30 million bond with a sinking fund provision that calls for retiring a proportionate percentage of the bonds during each year of the issue's 20-year life, so that 5 percent of the issue will be retired at the end of each year, immediately after that year's annual coupon payments have been made. If these bonds pay an annual coupon of 8 percent, how much interest (in $) will be paid during the third year of this issue's life?

a. $2,040,000

b. $2,160,000

c. $2,400,000

d. $3,660,000