Refinancing. Doug and Lynn bought their home three years ago. They have a mortgage payment of $583.12. Interest rates have recently fallen, and they can lower their mortgage payments to $476.15 if they refinance. What would their annual savings be if they refinance? They are in a 12% marginal tax rate bracket and have sufficient deductions to itemize. (Hint: Consider the reduction in tax savings and assume there are no additional costs for refinancing.) If they refinance, their annual savings will be $ (Round to the nearest cent.)