A company has just paid a last period dividend of 50 pence, its dividend is expected to increase by a constant 5% per annum, the risk-free rate of interest is 8%, the expected rate of return on the market is 12% and the company has a beta of 1.5. Calculate the stock price according to the Gordon growth model. If the market price of the share is 5.70, is the stock undervalued or overvalued? (Show one equation with the result, use a comma to separate answers, keep two decimals)