The bond's coupon was smaller than 10%, the modified duration would be large.
Coupon is defined as a tiny piece of paper that you can use to purchase items at a discount or accumulate and then trade for items. A coupon is a ticket or document that can be used in marketing to obtain a financial discount or refund when making a purchase of a good.
Modified duration and coupon rate have an inverse relationship. If the coupon rate falls, the modified duration rises, and the reverse is true.
Thus, the bond's coupon was smaller than 10%, the modified duration would be large.
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