International Genetics Incorporated issued 2,000 five-year, semi-annual bonds with $1,000 face value and 8% coupon rate on June 30, 2018. At the date of their issue, the market rate was 4%. What is the present value of the interest payments related to the bond issuance? Select one: a. $648,871.66 b. $594,826.53 c. $718,606.80 d. $652,978.94