Which , if any, of the following statements is (are) correct?

1.) The value of a gift for gift tax purposes is equal to the fair market value of the gifted property on the date of the gift or date of death

2.) The value of a publicly traded security for estates and gift taxes purposes is equal to the average of the high and low trading price on the date of the gift or date of death

a.) 1 only

b.) 2 only

c.) Both 1 and 2

d.) Neither 1 nor 2