Is there a Shanghai to Yichang train. If so what is the schedule and cost for 1st Class?

Yes, five bullet trains are operated between the two places, D626 at 06:00, D2206 at 06:36, D3072 at 06:42, D2216 at 08:43, D3006 at 13:53.
The first class seat costs around 419.5RMB per adult.
There are two fast trains, K696 and K253 which have no first class seats.