Leasehold and Leased Fee Interest You are the owner of a building which you leased out several years

ago. There are five years remaining on a NNN lease at $$30psf.$ You believe the current cap rate for your

building is $7\%.$ Your broker with Colliers has told you that the current market rent is $$33psf$ and that

expectations are that the market rent will increase at $2\%..$ The discount rate is $9\%$ and the cap rate is

$7\%.$ For building value estimation using the capitalization rate always look at $t+1$NOI for the value in

time t$.$ a$.$ What is the value of the leased fee interest? b$.$ What is the value of the leasehold interest?

Report your answers in $$/$psf including two decimal places.