On October 1, 2011, Souvenirs Company issued $6 million face-value debentures. The bonds have a coupon interest rate of 10% per annum, payable semi-annually on 31 March and 30 September, and mature on 30 September 2021. The bonds were issued at a price to yield 8%. The issue price of the bonds would have been

a.

$2,738,340.

b.

$2,779,140.

c.

$6,805,188.

d.

$6,815,440.

e.

None of the above.