department and got their estimates of what would be the probabilities of being successful if the airline expanded in those airports.

The beauty of this is that her methodology could be replicated for multiple airports within Zion's service area. By making the methodology almost automated, it allowed different staff at Zion to run different scenarios in different markets under different conditions. By offering this, Marina recognized that Zion's size was large enough that the methodology had to allow for use in different offices, each with different staff but all targeting the same outcome, namely the profitable expansion of the airline in those airports where it made the most sense.

She summarized the results in the table below using five airports where Zion already had a presence but suspected that there was room for profitable expansion:

$\backslash$table$[[,,$Airport$],[,$Symbol,$cos,$SLC$,$IWA,GCN$,$JAC$],[$PV of future cash flows,$S,24\mathrm{.}0,48\mathrm{.}0,27\mathrm{.}0,21\mathrm{.}0,38\mathrm{.}0],[$PV of incremental capital expense,$x,12\mathrm{.}0,10\mathrm{.}7,6\mathrm{.}2,2\mathrm{.}0,8\mathrm{.}1],[$Maturity$,$t$,2\mathrm{.}0,1\mathrm{.}5,1\mathrm{.}5,1\mathrm{.}5,2\mathrm{.}0],[$Risk free rate,$R_f,2\mathrm{.}5\%,2\mathrm{.}5\%,2\mathrm{.}5\%,2\mathrm{.}5\%,2\mathrm{.}5\%$