When Phil died in the current year, he owned shares of Orange Corporation which are traded in

Question:

When Phil died in the current year, he owned shares of Orange Corporation which are traded in the over-the-counter market. The market trades before and after Phil’s date of death occurred as follows.

Per Share Mean

Selling Price

Six days before death ………………………. $400

Four days after death ………………………. 450

What value per share should be included in Phil’s gross estate?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...