A borrower wants to obtain additional mortgage funds by taking out a "blend and extend" mortgage. The borrower's annual income is $100,000 and the current outstanding balance on the borrower's loan is $125,000. The borrower is currently making payments of $1,500 per month and will continue to make those payments for 10 more years. Based on a 30% debt service ratio, the maximum annual payment is $27,600 (after annual property taxes of $2,400 ). The current interest rate is 6.5% per annum, compounded monthly. New funds will be charged at a rate of 9% per annum, compounded monthly. Any new funds will be calculated based on a 20-year amortization. Calculate the maximum amount of funds that can be acquired using a "blend and extend" option