As CEO of TX Instruments you are considering financing your Japanese operations with debt. US $10-$year treasuries are currently at $4\mathrm{.}1\%$ and Japanese $10-$year treasuries are at $0\mathrm{.}75\%.$ You can borrow at $5\mathrm{.}85\%$ domestically $(175$ bp over the US $10$ year treasury$)$ or at $3\mathrm{.}0\%(225$ bp over the Japanese treasury$)$ in Japanese yen. Assume that there exists a Japanese company that can borrow at $100$ bp over the Japanese treasury and at $120$ bp over the US treasury. What is the Quality Spread Differential $($QSD$)$ in basis points for a swap between TX Instruments and the Japanese company?