Jadele, Inc., borrowed $12.8 million at 7.2% compounded quarterly for 30 years for construction of a new manufacturing facility. After making 42 quarterly payments of $261,094.80, it plans to refinance the existing loan for an amount that includes an additional $1.1 million for expansion. Jadele can refinance at 6.6% compounded quarterly for 25 years, with refinancing costs of $10,000 added to the refinanced amount.

(a) Find the total amount refinanced.

(b) Find the new quarterly payment.

(c) If Jadele decides to continue to pay $261,094.80 per quarter on the refinanced amount, how long will it take to pay off the new loan?