On January 1, 2020, Cotton Corp. issued eight-year, 3% bonds with a face value of $600,000, with interest payable semi-annually on June 30 and December 31. The bonds were sold to yield 4%. Table values are:

Present value of 1 for 8 periods at 3%		.789
Present value of 1 for 8 periods at 4%		.731
Present value of 1 for 16 periods at 1.5%		.788
Present value of 1 for 16 periods at 2%		.728
Present value of annuity for 8 periods at 3%		7.020
Present value of annuity for 8 periods at 2%		7.325
Present value of annuity for 16 periods at 1.5%		14.131
Present value of annuity for 16 periods at 2%		13.578

The issue price of the bonds is:

$559,002.

$599,760.

$570,450.

$599,979.