Tamarind inc has a bond issue outstanding with 20 years, Ask an Expert

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Tamarind, Inc. has a bond issue outstanding with 20 years remaining to maturity. CUrrently, this bond has a yield to maturity (YTM) of 4.9% while a T-bond with 20 years to maturity has a YTM of 3.1%. Tamarind's bond was issued 5 years ago when its rating was two notches higher than its current A+ rating (S&P) 1.) what was Tamarind's spread over a comparable T-bond at the time of issuance most likely to have been?

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