Scott makes a gift of stock in Cormorant 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 six trading days before (mean selling price of $60)and seven days after (mean selling price of $50).Determine the fair market value of the Cormorant stock on the date of the gift.

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The Answer of Scott makes a gift of stock in Cormorant 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 six trading days before (mean selling price of $60)and seven days after (mean selling price of $50).Determine the fair market value of the Cormorant stock on the date of the gift.

Scott Makes a Gift of Stock in Cormorant Corporation,which Is