A fixed$-$income trader at a hedge fund observes a $3-$year, $4\%$ annual payment corporate bond trading at $104$ per $100$ of par value. The research team at the hedge fund determines that the risk$-$neutral probability of default $($POD$)$ used to calculate the conditional POD for each date for the bond is $1\mathrm{.}50\%$ given a recovery rate of $40\%.$ The government bond yield curve is flat at $2\mathrm{.}50\%.$ What is the Credit Valuation Adjustment of the bond? Based on these assumptions, does the trader deem the corporate bond to be overvalued or undervalued? By how much?