You are considering the purchase of a $1,000 face value bond issued by ExxonMobil. The bond pays 10 percent coupon interest per year, with the coupon paid annually. The bond matures 12 years.

1. If the required rate of return (rb) on this bond is 8 percent, what is the market value of this bond?

2. If the required rate of return (rb) on this bond is 10 percent, what is the market value of this bond?

3. if the required rate of return (rb) on this bond is 12 percent, what is the market value of this bond?