The federal estate tax is imposed on the value of the property as of the date of death. I have an estate of a friend who owned stock in a corporation that is traded on the New York Stock Exchange. The highest, lowest and closing prices of the stock are available from the Exchange for all trading days, Monday through Friday, except federal holidays.

1. If my friend died on a Friday, so that the high, low and closing prices are available, how is the value of the stock determined? Cite name and number of the IRS publication