You have signed a 10 year lease to rent space for your retail store. The terms of your lease state that your monthly rental is $6000 per month for the entire lease. After three full years into the lease, a fire completely destroys the building. The fair market value of your space at the time of the fire is $5000. Rather than wait for the building to be repaired, you move to another location and sign a new lease at the fair market value. Based on this, which of the following is (are) TRUE? 1. You suffer a loss of use Il. The owner of the building suffers a leasehold interest loss of $1000 per month for 7 years Ill. You suffer a leasehold interest loss of $1000 per month for 7 years II only O Ill only O I and Il only O I and Ill only O I, II and Ill