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Fair Market Value : Calculating a Percentage Discount

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I received stock at a 15% discount to the Fair Market Value, what was the Fair Market Value?

I know the discounted value of the stock and I want to know what the value of the stock was before the discount. The stock was discounted 15%.
x= Fair Market Value of the stock before discount (I want to know this)
y = discounted value of stock (I know this)

think the equation is some thing like this x = y + (x * .15)


40.77 = 34.65 + (40.77 * .15)

how do I solve for x ?

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Solution Summary

A percent discount is found. The response received a rating of "5/5" from the student who originally posted the question.