Consider a $30-$year, $$165,000$ mortgage with a rate of $6\mathrm{.}75$ percent. Seven years into the mortgage, rates have fallen to $5\mathrm{.}45$ percent. Suppose the transaction cost of obtaining a new mortgage is $$1,750.$ Should the homeowner refinance at the lower rate? multiple choice Yes Correct No Quantify the effect of the homeowner's decision. Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.