Chloe Makes a Gift of Stock in Snipe Corporation, Which

question 100

Essay

Chloe makes a gift of stock in Snipe Corporation, which is not closely held but is traded in an over-the-counter market. The transactions involving this stock that occurred closest to the date of gift took place five trading days before mean selling price of $130) and seven days after mean selling price of $140). Determine the fair market value of the Snipe stock on the date of the gift.

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