Calculate the fair present values of the following bonds, all of which pay interest semiannually, have a face value of $1000, have 5 years remaining to maturity, and have a required rate of return of 10%.

a. the bond has a 6% coupon rate

b. the bond has a 8% coupon rate

c. the bond has a 10% coupon rate.

d. what do the answers to parts a through c say about the relationship between coupon rates and present values?