What your spread above 3 month LIBOR agreement, feeling, decided, interest

Colum

Dear Ledies and Gentlemen! If you were to issue a fixed-rate quarterly coupon 5 year bond having spread 175 bps above a Treasury yielding 115 bps, and then feeling a horror of an interest rates fall decided to engage into a swap agreement as a fixed rate reciever and float rate payer at 40 bps over the same Treasury under the same terms as the bond, what’s your spread over 3 month LIBOR of 30 bps?
135
141
176
Thank you.

soddy1979

a simple deduction of 2 numbers gives you 135.