At the time of Elijah's death, he owned stock in Grey Corporation. The stock is traded on a local exchange with the most recent selling prices as follows.
Per Share Price
Four trading days prior to Elijah's death $120
Six trading days after Elijah's death 100
Presuming no alternate valuation date election, Elijah's gross estate should include a per share value of:

Question

Quizplus · Accepted Answer

The per share value that should be included in Elijah's gross estate is the average of the highest and lowest selling prices on either side of his death date. In this case, that would be the highest selling price within six trading days after his death (100) and the lowest selling price within four trading days prior to his death (120). Adding these two prices and dividing by 2 yields a per share value of $112.

At the Time of Elijah's Death, He Owned Stock in Grey