Barry and Bernice have obtained a 30-year, fixed rate mortgage for $635,250 with a 7.35% interest rate. They purchased 2 points and their rate is now 6.925%. Factoring in the cost of points, when is the break-even point on their mortgage?
2 years, 11 months
3 years, 11 months
5 years, 10 months
2 years, 4 months