Murky Mortgage Corp. is a mortgage lender. The following information relations to Murky Mortgages portfolio of loans held for Investment at December 31, 2006:

Principal amount of loans at year end (excluding negative amortization)	$100 million
Interest earned for year	$5 million
Negative amortization accrued during the year	$2 million
Allowance for loan losses at end of year	1% of (loan principal plus accumulated negative amortization)
Accumulated negative amortization at beginning of 2006 (none of this was paid during the year)	$1 million

What is the amount of loans held for investment net of allowance for loan losses on the balance net of allowance for loan losses on the balance sheet at December 31, 2006?