The modified duration used by practitioners is equal to divided by (one plus the bonds yield to maturity). (a) current yield (b) the Macaulay duration (c) yield to call (d) yield to maturity (e) None of these is correct. 6. Holding other factors constant, which one of the following bonds has the smallest price volatil- ity? (a) 5-year, 0% coupon bond (b) 5-year, 12% coupon bond (c) 5 year, 14% coupon bond (d) 5-year, 10% coupon bond (e) Cannot