ABC Corporation has a book value of equity of $40 million, retained earnings of $50,000,000 and a market value of equity of $120 million. ABC has decided to issue 1,000,000 new shares of stock to their current stockholders for a price of $21 per share. Calculate the market value of equity after the new shares are issued (assuming retained earnings = 0).

(a) $21 million

(b) $61 million

(c) $191 million

(d) $141 million