Spencer makes a gift of stock in Swallow 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 seven trading days before (mean selling price of $90)and five days after (mean selling price of $70).Determine the fair market value of the Swallow stock on the date of the gift.

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The Answer of Spencer makes a gift of stock in Swallow 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 seven trading days before (mean selling price of $90)and five days after (mean selling price of $70).Determine the fair market value of the Swallow stock on the date of the gift.

Spencer Makes a Gift of Stock in Swallow Corporation,which Is