At the Time of His Death, Tom Owned Some Common

question 94

Multiple Choice

At the time of his death, Tom owned some common stock.
$\begin{array}{lcc} & \begin{array}{c}\text { Date of Death } \\\text { Value }\end{array} & \begin{array}{c}\text { Value Six } \\\text { Months Later }\end{array} \\\text { Citron Corporation } & \$ 1,500,000 & \$ 1,100,000 \\\text { Grey Corporation } & 1,300,000 & 1,400,000\end{array}$
The Citron Corporation stock is sold by the executor of the estate seven months after Tom's death for $1,300,000. If the alternate valuation date is properly elected, the value of Tom's estate as to these stocks is:

• A) $2,300,000.
• B) $2,400,000.
• C) $2,500,000.
• D) $2,700,000.
• E) None of the above.

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Definitions:

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The phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.

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