Consider the following data for the U.S. airline industry for Dec 2018.

Company Name	EV/Sales	EV/EBITDA	P/E	P/Book
Delta Airlines	1.08	5.88	14.55	3.88
American Airlines	0.94	4.68	5.95	7.2
United Airlines	0.82	4.33	4.68	2.47
Southwest Airlines	1.4	5.58	17.55	4.47
Alaska Airlines	1.75	6.11	13	4.27
Average	1.198	5.316	11.146	4.458

Suppose you want to value Jet Blue, an airline that has an EBITDA of $1270 million, sales of $5920 million, earnings of $505 million and a book value of $2000 million. Jet Blue has 14 million shares outstanding, debt with a market value of $1830 million and $42 million in cash on its balance sheet.

Estimate a price per share for Jet Blue Airlines using the method of comparables by answering the following questions. Enter your answers to 2 decimal places.

(a) What is your estimate of Jet Blue's share price if the average of Price to Earnings ratios for comparable airlines is used?

(b) What is your estimate of Jet Blue's share price if the average of Price to book ratios for comparable airlines is used?

(c) What is your estimate of Jet Blue's share price if the average of EV/Sales ratios for comparable airlines is used?

(d) What is your estimate of Jet Blue's share price if the average of EV/Ebitda ratios for comparable airlines is used?

(e) Using your prior estimates, do you consider the shares of Jet Blue to be fairly valued, under valued or over valued if thet are selling for $320 per share in the market?