Chester's balance sheet has $$94,001,000$ in equity. Further, the company is expecting net income of $4,000,000$ next year, and also expecting to pay $$5,000,000$ in dividends. If there is no new stock issued what will be Chester's book value?

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$$93,001,000$

$$103,001,000$

$$39,317,000$

$$49,317,000$