First, with a 19:37 5K, 8:00 to 8:15 is just right for your easy runs and long runs. See the McMillan calculator. http://www.mcmillanrunning.com/mcmillanrunningcalculator.htm
Second, if your MHR (maximum heart rate) is 174 - not necessarily a good assumption - and RHR (resting heart rate) about 50 - just guessing - 150 is about 80% of "heart rate reserve" (RHR plus 80% of (MHR minus RHR)). Maybe a little high for an easy run but that may just mean either your RHR or MHR are higher than 50 and 174. That you recorded 174 doesn't mean it's your MHR. All the standard formulas give a max of 179 or a few points higher.
Third, what makes you think your LT pace gives a heart rate of 140? Really, that's very low, and more like your fat-burning pace. A good place to be on easy runs but not for a tempo (aka Lactate Threshold) run. LT runs are speed work. Going back to the McMillan calculator, your tempo pace would be 6:38 to 6:56.
I would suggest you check out one or more of the many excellent books and web sites that are available. Here are a few to get you started.
Len
Running Books
Daniels' Running Formula; Jack Daniels
Lore of Running; Tim Noakes
Advanced Marathoning; Pete Pfitzinger
The more advanced Jeff Galloway books
Running Web Sites
http://www.mcmillanrunning.com/
http://pfitzinger.com/
http://www.jeffgalloway.com/
http://www.halhigdon.com/
Heart Rate Monitor Web Sites
http://www.marathonguide.com/training/articles/HeartMonitorTraining.cfm
http://www.runnersworld.com/article/0,7120,s6-238-244--12397-0,00.html
http://www.runnersworld.com/article/0,7120,s6-238-267--1039-0,00.html
http://davedraper.com/blog/2007/09/12/heart-rate-monitor-precision-heart-rate-training/