Why is this wrong?

Information from the financial statements of Park$-$Rao Industries included the following at December $31,2024$:

Convertible preferred shares $($convertible into $30$ million shares of common$)65$ million

Convertible $8\%$ bonds $($convertible into $21\mathrm{.}5$ million shares of common$)$$ $2,600$ million

Park$-$Rao's net income for the year ended December $31,2024$ is $$920$ million. The income tax rate is $25\%.$ Park$-$Raos paid dividends of

$$3$ per share on its preferred stock during $2024.$