ultrawideband path loss calculation

Hello,
I'm doing a path loss calculation for ultrawideband technology to find the required transmit power to reach minimum receiver sensitivity at a
receiver. I'm calculating it as:
Txpower = MIRSdBm - GtdBi - GrdBi + 20*log10(4*pi* (freq) / (3E8)) + 10*PLE*log10(distance)
where:
MIRSdBm = -85 GtdBi = 6 GrdBi = 6 freq = 3.5 GHz PLE = 1.5 distance = 3 metres
I'm getting Txpower values of -46.5 dBm or correspondingly .0195 uW. Using this transmit power, I'm calculating the corresponding transmission rate:
R = w * log2 (1 + (transmitPower * H / (w * Noise + Interference))
where: w = 500 MHz (using ultrawideband) transmitPower = .0195 uW H = 1.4099e-004 is the channel gain Noise = 3.6900e-021 Interference = 0 (initial condition)
I'm getting rates of over 650 Mbps! I know that ultrawideband rates can reach 500 Mbps so this isn't much of a stretch considering initial state of no interference. However, the parameters that I am using conform to the proposed Zigbee over UWB PHY standard with a maximum data rate of about 27 Mbps. So here there is a huge difference. I don't really know what to make of it.
Can anybody point me in the right direction?
Thanks in advance.
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