It is the fall of 2015 and you have been living in your two bedroom 1 bath apartment in Santa Monica for 20 years.  Your current rent is $1,000/Mo.  A similar apartment in your building recently rented for $2,000/Mo.   Your landlord has offered you an incentive to move out.   What do you think your leasehold interest is worth?  

 Instead suppose the year is 1997 and your rent was $500/Mo..  What do you think your leasehold interest was worth?