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Given the EBIT multipliers at the bottom of page 3, what would the stock IPO price range be? Note that EBIT = Earnings before taxes + interest expense. Also note that JetBlue was planning to issue 5.5 million shares

Expectations for the IPO were to sell 5.5 million shares at $25 to $26 each, this is an increase the previous $22 to $24 range The underwriters were Morgan Stanley and Merrill Lynch Amount raised in IPO $158 million Number of shares issued 5.87 million IPO price per share $27 Close price on IPO day $45