How do I negotiate my salary during annual discussion?

As the title says. I gave them a lower number this year when I started and they readily accepted it. I am heavily undervalued. I want to bring this up during the annual discussion, but don’t know how to. Do I tell them I heavily undervalued myself? And I was naive back then because I joined straight out it college? And then learnt on the job what my actual valuation was based on discussions with others about the current market rate?

Location is Boston.

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