Using the one$-$period valuation model described in class, would you identify this stock as overvalued or undervalued?

Enbridge Inc. $($ENB$)$ pays a very healthy a quarterly dividend of $$0\mathrm{.}89($ $$3\mathrm{.}56$ annual$)$ and currently trades at $$46\mathrm{.}37$ share. Investors seek to earn $8\%$ on their investment. After $1$ year, investors assume that they stock will sell for $$48.$

$$ Overvalued

Undervalued