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(d) The indebtedness must not have been condoned by the creditor or the
action to collect from the decedent must not have prescribed.
9. How do we determine the fair market value of the unlisted stocks? (RR NO. 6-2013) (Annex U)
In determining the value of the shares, the Adjusted Net Asset Method shall be used whereby all assets and
liabilities are adjusted to fair market values. The net of adjusted asset minus the adjusted liability value is the
indicated value of the equity.
For purposes of this item, the appraised value of real property at the time of sale shall be the highest among the
following:
(a) The fair market value as determined by the Commissioner, or
(b) The fair market value as shown in the schedule of values fixed by the Provincial and City Assessors, or
(c) The fair market value as determined by Independent Appraiser.