A company has issued non-callable, non-convertible preferred stock with the following features:
·Par value per share　　　　　 $10
·Annual dividend per share　　 $2
·Maturity　　　　　　　　　 15 years
If an investor's required rate of return is 8% and the current market price per share of the  preferred stock is $25, the most likely conclusion is that the preferred stock is:

A.Overvalued by $4.73.

B.Fairly valued at $25.00.

C.Undervalued by $15.00.