Problem 4 Consider the following ratios for the airline industry for August 2012. (NA means the ratios cannot be calculated because the divisor is negative) Company name P/E P/Book value Ita Air Lines 8.7 NA United Continental 15.5 NA Southwest Airlines 21.11.2 US Airways Jetblue Airways 11.9j0.8 4.3 NA Alaska Air 9.9 1.9 SkyWest NA3 I Hawaiian Suppose that Hawaiian Airlines has 53 million shares outstanding. Total earnings are 57.63 million. Book value of equity 85.67 million. Estimate Hawaiian share price based on the average ratios of its competitors