At the beginning of the year on January 1, Fox Co. had 100,000 shares of common stock authorized, 85,000 issued, and 5,000 treasury shares. On April 30, Fox issued 9,000 shares of preferred stock, each share convertible to 3 shares of common stock. In Fox's calculation of diluted earnings per share at year end, what is the total number of shares to be included in the denominator.

Group of answer choices

98,000

103.000

89,000

94,000