The table below presents the betas and expected returns of four companies. The risk-free rate is 3.20% and the market risk premium is 5%. Company Expected return Beta A 6.8% 1.05 B 11.0% 1.20 C 9.0% 0.80 D 6.0% 0.85 Determine whether each company is overvalued, undervalued or fairly valued and explain.