The value of the current \( I_o \) in the circuit can be determined by using the current gain (\( \beta \)) of the transistors and their respective emitter areas. Given that the emitter area of Q1 is half that of Q2, and the current gain for both transistors is provided (\( \beta_1 = 700 \) and \( \beta_2 = 715 \)), the current through Q1 can be found using the formula:
\[
I_o = \frac{V_{BE}}{R}
\]
where \( V_{BE} \) is the base-emitter voltage and \( R = 0.3 \, \text{k}\Omega \). After solving, we find that the current \( I_o \) is approximately 2.0 mA. Thus, the correct answer is option (3).