Information from the financial statements of Park-Rao Industries included the following at December 31, 2024: Common shares outstanding throughout the year Convertible preferred shares (convertible into 32 million shares of common) 80 million Convertible 8% bonds (convertible into 18.0 million shares of common) $2,000 million Park-Rao's net income for the year ended December 31, 2024, is $800 million. The income tax rate is 25%. Park-Raos paid dividends of $2 per share on its preferred stock during 2024. Required: Compute basic and diluted earnings per share for the year ended December 31, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places