Current Attempt in Progress

You are currently thinking about investing in a stock priced at $$24\mathrm{.}00$ per share. The stock recently paid a dividend of $$2\mathrm{.}20,$ and its dividend is expected to grow at a rate of $4$ percent for the foreseeable future. You normally require a return of $12$ percent on stocks of similar risk. Is the stock overpriced, underpriced, or correctly priced? $($Round answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

Current value of the stock

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