This morning, Mary bought a ten-year, $1000 par value bond with a 6.5% coupon rate and semi-annual payments. She paid $994 for the bond. If the market interest rate on this type of bond increases to 7.0% tonight, how much will Mary receive for her first coupon payment?

a. $32.50

b. $35.00

c. $65.00

d. $69.58

e. $70.00