Ten years ago, you took out a $400,000 mortgage to buy a new house. The mortgage was a 20-\ year, 5% mortgage with annual payments. Today Hong Kong Shanghai Bank (HSBC) offers you \ a similar mortgage at 3% interest. However, when you contacted HSBC to inquire about the \ possibility of refinancing the reminder of your mortgage with a 10-year, 3% mortgage, you were \ told by HSBC that you will have to pay a $10,000 refinance fee for the refinancing. Should \ you still refinance the mortgage?