On January 1, 2017, Waterway Industries issued eight-year bonds with a face value of $6050000 and a stated interest rate of 8%, payable semiannually on June 30 and December 31. The bonds were sold to yield 10%. Table values are:

Present value of 1 for 8 periods at 8% 0.540Present value of 1 for 8 periods at 10% 0.467Present value of 1 for 16 periods at 4% 0.534Present value of 1 for 16 periods at 5% 0.458Present value of annuity for 8 periods at 8% 5.747Present value of annuity for 8 periods at 10% 5.335Present value of annuity for 16 periods at 4% 11.652Present value of annuity for 16 periods at 5% 10.838 The present value of the interest is

a. $2622796.

b. $2781548.

c. $2819784.

d. $2582140.