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What is the fair market value of david gift

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Reference no: EM132957225

On May 25, 2019, David gave his brother Larry one share of ABC stock, which was traded on an exchange. May 25 was a Saturday, and Monday, May 27, was Memorial Day. These were the quoted prices on Friday and Tuesday:

Sales Price

Date                  High               Low              Closing
May 24             100            93                 97.5
May 28           100.5            95.5                 97

Problem 1: What is the fair market value of David's gift?

Reference no: EM132957225

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