Levered and Unlevered are two companies identical in every way except their capital structures. Each company expects to earn $250,000$ before interest per year in perpetuity, with each company distributing all its earnings as dividends. Levered$$s perpetual debt has a market value of $210,000$ and an interest rate of $8\%$ per year. Levered has $18,000$ shares outstanding, currently worth $68$ per share. Unlevered has no debt and $24,000$ shares outstanding, currently worth $62$ per share. Neither firm pays taxes. From the perspective of an equity investor, which of the two stocks is relatively underpriced?