Ratio of the wavelengths.
λ0λ=500600=1,2.
This is a redshift: the received wavelength is longer, consistent with recession.
Square the Doppler formula.
(λ0λ)2=1−β1+β⇒1,44=1−β1+β.
Isolate β.
1,44(1−β)=1+β⇒1,44−1,44β=1+β⇒0,44=2,44β,
β=2,440,44≈0,18.
Velocity.
v=βc≈0,18×3⋅108≈5,4⋅107 m/s.
v≈0,18c≈5,4⋅107 m/s
The source is receding at about 18% of the speed of light.