On January 1, 2020, Swifty Corporation issued eight-year bonds with a face value of $5910000 and a stated interest rate of 4%, payable semiannually on June 30 and December 31. The bonds were sold to yield 6%. Table values are:

Present value of 1 for 8 periods at 4% 0.731Present value of 1 for 8 periods at 6% 0.627Present value of 1 for 16 periods at 2% 0.728Present value of 1 for 16 periods at 3% 0.623Present value of annuity for 8 periods at 4% 6.733Present value of annuity for 8 periods at 6% 6.210Present value of annuity for 16 periods at 2% 13.578Present value of annuity for 16 periods at 3% 12.561 The present value of the principal is

a. $4320210.

b. $4302480.

c. $3681930.

d. $3705570.