Donating Stock to Charities

It is usually a good idea to donate stock that has gone up in value to charities. You get to deduct the value of the stock on the day you make the donation and you don't have to recognize any capital gain. How do you determine the value of the stock? The IRS rule states that you use the average of the high and the low price for the stock on the day of the donation which you can look up on the internet or ask your broker.