Considering the following information, what is the net benefit of refinancing the loan for the? Expected holding period: 3 years Current loan balance: $280,000 Current loan interest: 6.75% Current loan mortgage payment: $2,477.75 Remaining term on current mortgage: 15 years New loan interest: 5.75% New loan mortgage payment: $2,325.15 New loan term: 15 years Cost of refinancing: $5,600 Assume that the opportunity cost is the interest rate on the new loan (5.25%)