$1.$Consider the following data for the airline industry for July $2018.$ Discuss the potential challenges of using multiples to value an airline.

$2.$Suppose Alaska Air $($ALK$)$ has $123$ million shares outstanding. Estimate Alaska Air$$s share value using each of the five valuation multiples in Problem $28,$ based on the median valuation $\backslash$table$[[$Company Name,$\backslash$table$[[$Market$],[$Capitalization$]],\backslash$table$[[$Enterprise$],[$Value $($EV$)]],$EV$/$Sales$,$EV$/$EBITDA$,$EV$/$EBIT$,$P$/$E$,$Forward$],[$Alaska Air $($ALK$),7,286,8,207,1\mathrm{.}02x,5\mathrm{.}1x,6\mathrm{.}7x,7\mathrm{.}7x,12\mathrm{.}5$xmultiple of the other seven airlines shown.