Suppose that you are researching a new company that does not pay dividends and you want to estimate its intrinsic value. Your research reveals that the average industry P/E ratio is 15 and that analysts estimate the company's upcoming earnings per share to be $1.75. The current stock price is $22. Using valuation multiples, is the company's stock price overvalued or undervalued in the marketplace according to your estimates? Overvalued Undervalued Cannot be determined