Jet Blue makes the projections below for future cash flows in preparation for the road show for its forthcoming IPO. 2002 2003 2004 2005 2006 2007 2008 2009 2010 EBIT 80 134 181 226 274 326 375 410 443 NOPAT 52 88 122 151 189 218 257 260 298 Depreciation 19 27 35 48 53 62 77 88 95 Capital expenditures 290 328 345 310 326 342 299 157 132 NWC investment 30 30 33 31 34 36 34 24 23 a. Assume that the cost of capital for Jet Blue is 12%, JetBlue has $200 Million in Debt, and JetBlue will have 40 Million shares after the IPO. Calculate the enterprise value of Jet Blue. Assume that the steady state economic growth rate is 4%. Make any other assumptions you need to make. b. Estimate an offer price based on your calculations