Seven years ago a borrower took a mortgage for $150,000 at 6% for 30 years. Currently, the market interest rate is 5.25%. We call this 30-year mortgage as the old mortgage. The existing mortgage has a prepayment penalty of 3% of the outstanding loan balance. The closing cost of the new mortgage is 2% of the loan amount. The borrower is considering refinancing to a new 23-year mortgage at the current interest rate. We call this 23-year mortgage as the new mortgage. What is the outstanding loan balance of the old mortgage now?