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Starbucks (Croatia). Starbucks opened its first store in Zagreb, Croatia, in October 2010. In Zagreb,...

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Starbucks (Croatia). Starbucks opened its first store in Zagreb, Croatia, in October 2010. In Zagreb, the price of a tall vanilla latte is 25.73 Croatian kunas (kn or HRK). In New York City, the price of a tall vanilla latte is $2.64. The exchange rate between Croatian kunas and U.S. dollars is kn5.6288 =$1. According to purchasing power parity, is the Croatian kuna overvalued or undervalued? The percentage of overvaluation or undervaluation is \%. (Round to two decimal places.)

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