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

Common shares outstanding throughout the year $100$ million

Convertible preferred shares $($convertible into $32$ million shares of common$)60$ million

Convertible $8\%$ bonds $($convertible into $13\mathrm{.}5$ million shares of common$)$ $ $900$ million

Park$-$Rao$$s net income for the year ended December $31,2024,$ is $$520$ 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 $31,2024.$