Use Worksheet 5.4. 31 Ma purchased a condominium 4 years ago for $200,000, paying $1.979.48 per month on her $185,000, 8 percent, 30-year mortgage. The current loan balance is $180,892. Recently, Interest rates dropped sharply, causing Jia to consider refinancing her condo at the prevailing rate of 6 percent. She expects to remain in the condo for at least 4 more years and has found a tender that will make a 6 percent, 26-year $180,892 loan, requiring monthly payments of $1,146.27. Although there is no prepayment penalty on her current mortgage, Ja will have to pay $1,000 in closing costs on the new mortgage. She is in the 28 percent tax bracket. Based on this information, use the mortgage refinancing analysis form in Worksheet 5.4 to determine whether she should refinance her mortgage under the specified terms. Assume that Ila is assumed to take the standard deduction She Brefinance her mortgage under the specified terms