rid is considering refinancing her mortgage. She currently has 120 payments of $987 left on her fully amortizing loan. A lender is offering her a new fully amortizing mortgage on the remaining balance for 10 years (also 120 payments) that will have a payment of $870. Ingrid is not planning to ever move from her house. What is the highest refinancing cost today that Ingrid is willing to pay and still choose to refinance if her discount rate is 8%? State your answer as a number rounded to two decimal points

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