You believe a company will deliver Enterprise Free Cash Flows of 90 Mn at the end of the current year,102Mn at the end of the year after and thereafter you expect the cash flows to grow at6%.If the current price of the 200Mn shares in issue is 8.00,the company's debt is valued at 1,200Mn and its cost of capital is 10%, then you believe that:

a)the shares are overvalued by50%

b)the shares are overvalued by33.3%

c)the shares are correctly valued

d)the shares are undervalued by33.3%e)the shares are undervalued by50%