Receipt Grid merge field is rendering special characters wrong with Payment 2.0 Part e-receipt, and acknowledgement email

When using Payment Part 2.0 to send an e-receipt, or acknowledgement email special characters that are used within designations are getting rendered incorrectly.
This was originally reported in Service Pack 6, but hasn't been duplicated in SP10 or higher.  We are no longer investigating this issue.  If you experience this issue on Service Pack 13 or higher, please create a new case. 

Steps to Duplicate

1. View the acknowledgement email, to make sure the Receipt Grid merge field is within the email
2. Within BBIS donate with a designation that has a ' character
3. Once the email receipt has been received view the designation, and see incorrect special characters

Environment

 Blackbaud CRM
 4.0
 4.0.157.0

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