Considering the following information, what is the net benefit of refinancing the loan for the?

Expected holding period: 4 years

Current loan balance: $145,000

Current loan interest: 6.25%

Current loan mortgage payment: $1,243.26

Remaining term on current mortgage: 20 years

New loan interest: 5.25%

New loan mortgage payment: $977.07

New loan term: 20 years

Cost of refinancing: $2,900

Assume that the opportunity cost is the interest rate on the new loan (5.25%)

A. $1,025.98

B. $1052.64

C. $1,073.05

D. $1,033.89