Assume a Five-Year Maturity Bond That Pays a Coupon Valued

Assume a five-year maturity bond that pays a coupon valued at $80 each year and has a face value of $1,000.If the market interest rate is i = 8%, the current price of this bond is

A) exactly $1,250
B) exactly $1,000
C) less than $1,000
D) more than $1,000
E) somewhere between $1,000 and $1,250