Matt shaw buys 100 shares of common stock for $8,000 in january. the value of the stock fluctuates in a narrow range (averaging $8,700) throughout the year. in november, when it has a value of $9,500, he donates it to a non-profit entity. on december 31, the stock has a fair value of $8,200. at what amount should the non-profit entity value the stock on its december 31 statement of financial position?
a. $8,200
b. $8,000
c. $9,500
d. $8,700