Consider the following data LOADING... for the airline industry for April $2019($EVequalsenterprise $$value$,$ Bookequalsequity book$$ value$).$ Discuss the potential challenges of using multiples to value an airline.

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Part $1$

All the multiples show a great deal of$$ variation, suggesting the$$ following:$($Select the best choice$$ below.$)$

A$.$

Smaller airlines are more efficient than their larger competitors.

B$.$

Airlines are very diversified nowadays.

C$.$

Ratios were probably computed at different points in time.

D$.$

Profitability and growth varies widely across firms.

Part $2$

Which of these ratios is probably the most$$ useful? $($Select the best choice$$ below.$)$

A$.$

$$EV$/$Sales

B$.$

$$EV$/$EBITDA

C$.$

$$P$/$Book

D$.$

$$P$/$EData table

$($Click on the following icon $$ in order to copy its contents into a spreadsheet.$)$