U have a Tranche of 100,000,000 and u are selling protection for 10-20 defaults. Assume that the coupon u are paying for this tranche is 10%. For the 0-10 Tranche the coupon for the Tranche will be:

Hint: U don't need to calculate it just use ur common sense and what u have learned in class to guesstimate

		greater than 10%
		equal to 10%
		less than 10%
		NOne of the above

please explain and show work