07 Practice exam P50, 167题

company earning 762 million. Company's stock average price 18 per share.  600 million shares outstanding. 12 million share of 7%, 25 par value cumulative prefered stock and 4 million shares of 5%, 100 par convertible preferred stock. Each convertable is exchangable into 25 common. 30 million stock options outstanding during year. Each option excercised one common at 25 per share. Calculate diluted earning per share.

a. 1.04     b. 1.07      c 1.09    d 1.24

答案给的是,(762 - 21 + 20) / ( 100+600) = 1.09

但是notes 3   112的例子

 如果是 convertible preferred stock , earning 先减后加 convertible prefered dividend, 所以earning不变, 不受 convertible prefered dividend 的影响. 也就是题目中的20不应该加上.

请高人解释一下,是不是题目有错??