Art makes a gift of stock in Drab 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 $120) and six days after (mean selling price of $100). Determine the fair market value of the Drab stock on the date of the gift.

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The Answer of Art makes a gift of stock in Drab 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 $120) and six days after (mean selling price of $100). Determine the fair market value of the Drab stock on the date of the gift.

Art Makes a Gift of Stock in Drab Corporation, Which